Shriram Asset Management Company (Shriram AMC) a part of Shriram Group, is one of India’s leading financial conglomerates with a dominant presence in commercial vehicle (CV) financing, retail financing, chit fund, equipment financing, housing finance, life insurance, general insurance, stockbroking, distribution of financial products, and wealth advisory services with a total client base of 20+ million customers.
Mission1 Investments LLC is an impact focused investment partnership with the dual mission of democratizing access to investments and wealth creation, as well as generating strong financial returns for its partners. Mission1’s owners include veteran investors Gaurav Patankar, Amit Rajpal and Eric Wetlaufer, among other partners.
Pursuant to the approval of shareholders of Shriram AMC at the extraordinary general meeting held on March 02, 2022 and pursuant to receipt of the applicable approvals from SEBI and the Stock Exchanges, the Securities Issue Committee of the Board of Directors of Shriram AMC at its meeting held on May 27, 2022, approved allotment of securities on a preferential basis to Mission1 Investments LLC. Mission1 Investments LLC will hold 23% stake in Shriram AMC.
InCredMAPE was the exclusive financial advisor to Shriram Asset Management.
Akhilesh Singh, Vice Chairman, Shriram Credit Company Ltd said, “The Shriram Group is fully committed to reinvigorating the Mutual Fund business. Towards this, we are bringing investors who are growth conscious and aligned with the Group’s passion for responsible growth and impact at the bottom of the pyramid. Going forward, we will launch solutions leveraging our deep tech architecture, our connect with customers and a creative product set focused on value creation for the common investor.”
Gaurav Patankar & Eric Wetlaufer on behalf of Mission1 Investments LLC added, “We are excited to invest with the Shriram Group whose keen focus on financial inclusion for the “Common man” aligns with our stated mission of democratizing access to investment products and solutions. Successful investing and wealth creation should not be an exclusive preserve of the Top 1% of society and by investing in Shriram Asset Management Company, we hope to help level the field via a new-age client-centric platform that can create scalable, customizable and low-friction investment solutions. By combining technology and fundamental investing, the “Quantamental” approach will bring together profit and purpose. We are looking forward to partnering with all key stakeholders in realizing this vision.”
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InCredMAPE is the Investment Banking platform of InCred Group offering M&A Advisory, Fund Raise Advisory and Structured Finance solutions. InCredMAPE offers in-depth sector expertise, deep industry relationships, global mindset, and superior execution skills to devise strategies that objectively addresses complex business needs of its clients.
