Please find attached intimation with respect to Resignation of Directors of the Company.
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Awaiting price reaction for this filing.
Shriram AMC's board on July 30, 2025 approved Q1 FY26 results showing a net loss of ₹275.76 lakhs on total income of ₹361.97 lakhs, a slight improvement over Q1 FY25's loss of ₹252.01 lakhs. Sanlam Emerging Markets (Mauritius) Limited (SEMML) has formally become a co-promoter after acquiring a 23% stake via preferential allotment of 38,88,889 shares at ₹270 each for ₹105 crores, alongside existing promoter Shriram Credit Company Limited (48.17%). A Shareholders' Agreement was executed and Articles of Association amended to give SEMML nomination rights and veto powers on key matters. Three directors resigned on the same day — two independent directors (Marc Scott Irizarry and Prem Haroomal Samtani) and one director (Dhruv Lalit Mehta) — citing pre-occupation. New appointments include SEMML nominee Pragadasan Shanmugam, two new independent directors (Hakkithimmanahalli Krishna Gayathri and Roopa Venkatkrishnan), and MD & CEO Kartik Jain was re-appointed for three years from January 2026.
For shareholders, this marks a major ownership shift as Sanlam gains joint control and meaningful governance rights including veto on budget, key hires, and board changes. The company remains loss-making though losses are narrowing. The simultaneous exit of three directors is a governance event but appears linked to the ownership transition rather than any internal dispute.