360 ONE WAM Revises Acquisition Terms for Batlivala & Karani Securities

In a recent update, 360 ONE WAM Limited announced revisions to the pricing of equity shares and warrants related to its acquisition of Batlivala & Karani Securities India Private Limited (BKSIPL). While the total consideration for the acquisition remains unchanged at Rs. 1,774.24 crores, the revised terms reflect adjustments in the valuation of equity shares and warrants. Here’s a detailed breakdown of the updates:

Key Highlights of the Revision

1. Revised Valuation Report:
   The price of equity shares and warrants has been revised from Rs. 1,174.13 to Rs. 1,174.76 per share/warrant. This adjustment is based on the updated valuation report.

2. Equity Shares:

   • Number of Shares: 1,00,00,000 fully paid-up equity shares.

   • Revised Price: Rs. 1,174.76 per equity share.

   • Total Equity Consideration: Rs. 1,174.76 crores.

3. Cash Consideration:

   • The cash component of the acquisition has been revised to Rs. 599.48 crores.

4. Warrants:

   • The price of warrants issued to Mr. Saahil Murarka has been revised from Rs. 1,174.13 to Rs. 1,174.76 per warrant.

   • Aggregate Issue Proceeds: Revised to Rs. 391.59 crores (rounded).

5. Amendment Agreements:

   • SPSSA First Amendment: The First Amendment Agreement to the Share Purchase and Share Subscription Agreement was executed on February 20, 2025.

   • SSA First Amendment: The First Amendment Agreement to the Share Subscription Agreement was also executed on the same date.

What Does This Mean?

The revision in the acquisition terms reflects 360 ONE WAM Limited’s commitment to ensuring a fair and transparent valuation process. While the total consideration remains unchanged, the adjustments in the price of equity shares and warrants demonstrate the company’s diligence in aligning the transaction with the latest valuation metrics.

About Batlivala & Karani Securities India Private Limited

Batlivala & Karani Securities India Private Limited is a well-known player in the financial services sector, specializing in equity research, brokerage, and investment advisory services. The acquisition by 360 ONE WAM Limited is expected to strengthen its position in the wealth and asset management space, leveraging BKSIPL’s expertise and market presence.