The deal contains inventory broking, portfolio administration, and distribution companies, alongside the residual mortgage portfolio of wealth administration purchasers, with lively belongings underneath administration of roughly Rs 26,000 crore as of December 31, 2024.
As a part of the settlement, 360 ONE WAM will situation 2.05 crore warrants to UBS AG at Rs 1,030 per warrant. Upon conversion, this can give UBS a 4.95% fairness stake in 360 ONE WAM Ltd.
360 ONE WAM shares closed at Rs 953.70 on BSE on Monday, down 0.22 per cent.
The deal additionally features a broader strategic collaboration between the 2 corporations as it would enable each corporations to supply built-in onshore and offshore wealth administration options. A joint committee will likely be fashioned to discover additional progress alternatives underneath this alliance.
“This collaboration represents a strategic leap ahead for each 360 ONE WAM and UBS AG—one which strengthens our place as a market chief in India and UBS’s providing because the wealth supervisor of selection for World Indians,” stated Akhil Gupta, Chairman, 360 ONE WAM. Jin Yee Younger, Co-Head World Wealth Administration Asia Pacific, UBS stated, “We’re happy with this newest milestone and satisfied that this strategic collaboration with 360 ONE will assist speed up our momentum in one of many world’s most vital and fastest-growing markets. Collectively, we’re greatest positioned to serve our international Indian purchasers wherever they’re as they search better alternatives, each domestically and globally.”