Subject to the approval of Shareholders of the Company, please find attached intimation with respect to alteration of Articles of Association of the Company approved by the Board of Directors ....
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Shriram Asset Management's board, at its July 30, 2025 meeting, approved Q1 FY26 (quarter ended June 30, 2025) results showing total income of ₹361.97 lakhs (up from ₹225.74 lakhs YoY) but a net loss of ₹275.76 lakhs, mainly due to high employee costs of ₹394.75 lakhs. The board formalised Sanlam Emerging Markets (Mauritius) Limited (SEMML) as co-promoter alongside Shriram Credit Company Limited (SCCL), after SEMML's preferential allotment of 38,88,889 equity shares at ₹270 each (~₹105 crore) for a 23% stake was completed; the trio has now signed a Shareholders' Agreement. Multiple board changes were announced: three new directors appointed (including one Sanlam nominee), MD & CEO Kartik Jain re-appointed for 3 years, Eapen as new Chairman replacing Vaidyanathan, and three directors resigned. A postal ballot will seek shareholder approval for the AOA amendment and key appointments.
The entry of Sanlam as co-promoter is a major structural change that brings a global asset management partner into joint control with SCCL, which could support growth of Shriram Mutual Fund's AUM. Shareholders should watch the postal ballot outcome, as the amended Articles and board changes cement Sanlam's influence, including veto rights on key reserved matters. The company continues to post losses, though revenue is growing steadily.