Shriram Capital launches wealth management JV with Sanlam

Shriram Capital is launching a wealth management joint venture with Sanlam Group, using its existing depositor base. The company aims to serve mid-income customers who have investable surplus, rather than competing directly with established firms. The partnership reflects a growing demand for wealth management products in India, as more people seek investment opportunities. Shriram Capital plans to build on its insurance business to offer tailored solutions for a broader range of clients. The joint venture will have a 50-50 capital structure. Shriram Capital intends to focus on underserved investors, moving beyond traditional classifications like high-net-worth individuals. The partnership aims to establish a significant presence in India's wealth management market over the next decade.