Sundaram Asset Management Company Limited has received regulatory approval for the purchase of the asset management businesses of Principal Asset Management Pvt. Ltd. Sundaram will acquire the schemes managed by Principal India and acquire 100% of the share capital of Principal Asset Management Pvt. Ltd., Principal Trustee Company Pvt. Limited, and Principal Retirement Advisors Pvt. Ltd., originally announced on the 28th of January 2021.
The transaction is subject to compliance with SEBI prescribed processes and fulfillment of mutually agreed conditions precedent to deal closure. As per regulatory requirements, there will be an ‘exit load free window’ for investors to redeem their investments, where such exit load is applicable.
