Sundaram Finance to acquire direct control of alternate assets arm
The company will acquire the entire stake in Sundaram Alternate Assets Ltd from Sundaram Asset Management Company Ltd for up to Rs 75 crore.
The board of Sundaram Finance Ltd (SFL) has approved the acquisition of the entire stake in Sundaram Alternate Assets Ltd (SAAL) from Sundaram Asset Management Company Ltd (SAMCL), according to a stock exchange filing reported by The Times of India.
SAAL is currently a wholly owned subsidiary of SAMCL, which is itself a wholly owned subsidiary of SFL. Following the transaction, SAAL will become a direct subsidiary of SFL rather than a step-down subsidiary.
SFL will acquire all 3,90,53,158 equity shares of Rs 10 each held by SAMCL. The cash consideration for this acquisition will not exceed Rs 75 crore, excluding taxes, stamp duty, and other charges.
In FY26, SAAL reported a revenue of Rs 153 crore and a profit after tax of Rs 26 crore. The company expects to complete the transaction by March 31, 2027.