360 ONE WAM Limited (formerly IIFL Wealth Management) has announced significant strategic initiatives aimed at expanding its wealth management services and strengthening its market position.
🔹 Strategic Collaboration with UBS AG
On April 22, 2025, 360 ONE WAM Limited’s Board approved an exclusive strategic collaboration with UBS AG to enhance wealth management solutions for both domestic and global clients. As part of this collaboration, the company will issue 20,502,939 warrants to UBS AG on a preferential basis at ₹1,030 per warrant. These warrants are convertible into an equivalent number of fully paid-up equity shares within 18 months from the date of allotment. The issue price represents a 14% premium over the 3-day Volume Weighted Average Price (VWAP) preceding April 17, 2025.
🔹 Acquisition of UBS AG’s India Wealth Business
The Board also noted the proposed acquisition of UBS AG’s India Wealth Business by the company’s subsidiaries. This includes the stock broking services, distribution business, discretionary and non-discretionary portfolio management services, and the residual loan portfolio of wealth management clients. As of December 31, 2024, the active assets under management stood at approximately ₹26,000 crores. The net consideration for this transaction is ₹307 crores.
🔹 SEBI Approval for B&K Securities Acquisition
In a related development, 360 ONE WAM Limited has received prior approval from the Securities and Exchange Board of India (SEBI) under the SEBI (Merchant Bankers) Regulations, 1992, for the proposed acquisition of Batlivala & Karani Securities India Private Limited (B&K Securities). This approval, granted on April 21, 2025, pertains to the change of control of B&K Securities to 360 ONE WAM Limited. The company will proceed with the acquisition upon receiving all other necessary regulatory approvals and no objections.
