Under the deal, Shriram AMC has preferentially allotted 3.89 million equity shares to Sanlam Emerging Markets (Mauritius) (SEMM), resulting in a capital infusion of Rs1.05bn ($12.2m).

This move will elevate Sanlam's effective economic shareholding in SGIC from 40.25% to 50.99% and in SLIC from 42.38% to 54.40%, further entrenching its presence in the Indian market. Conversely ...