CCI Clears Share Acquisition Deal in Shriram Asset Management
ECONOMY & POLICY

CCI Clears Share Acquisition Deal in Shriram Asset Management

The Competition Commission of India has approved a proposed deal involving the acquisition of shares in Shriram Asset Management Company (SAMC) by Sanlam Emerging Market (Mauritius) Limited (SEMM) and Shriram Credit Company Limited (SCCL).

As part of the agreement, SEMM will acquire 23 per cent of SAMC’s expanded voting share capital through a preferential allotment. Additionally, SEMM, along with SCCL, will launch an open offer to acquire up to 26 per cent more shares from the public, in accordance with SEBI’s takeover regulations.

SEMM, a Mauritius-based company and part of South Africa’s Sanlam Group, already holds a 40.7 per cent stake in Shriram Capital, the parent company of SAMC. SCCL, a subsidiary of Shriram Investment Holdings and part of the Shriram Group, currently acts as the promoter and sponsor of SAMC.

SAMC, which operates under the Shriram Group, is registered with SEBI as an asset management company. While it has received regulatory approval to offer portfolio management services, it has not yet begun operations in that area.

A detailed order from the Competition Commission is expected to follow.

Image Source: Generated by ChatGPT

The Competition Commission of India has approved a proposed deal involving the acquisition of shares in Shriram Asset Management Company (SAMC) by Sanlam Emerging Market (Mauritius) Limited (SEMM) and Shriram Credit Company Limited (SCCL). As part of the agreement, SEMM will acquire 23 per cent of SAMC’s expanded voting share capital through a preferential allotment. Additionally, SEMM, along with SCCL, will launch an open offer to acquire up to 26 per cent more shares from the public, in accordance with SEBI’s takeover regulations. SEMM, a Mauritius-based company and part of South Africa’s Sanlam Group, already holds a 40.7 per cent stake in Shriram Capital, the parent company of SAMC. SCCL, a subsidiary of Shriram Investment Holdings and part of the Shriram Group, currently acts as the promoter and sponsor of SAMC. SAMC, which operates under the Shriram Group, is registered with SEBI as an asset management company. While it has received regulatory approval to offer portfolio management services, it has not yet begun operations in that area. A detailed order from the Competition Commission is expected to follow.Image Source: Generated by ChatGPT

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?