360 ONE WAM Limited has unveiled plans to acquire Batlivala & Karani Securities India Private Limited (B&K Securities) and Batlivala & Karani Finserv Private Limited (B&K Finserv) in a landmark move to strengthen its presence in India’s financial services sector.
The acquisitions, valued at a total consideration of ₹1,884.13 crore, are expected to solidify 360 ONE WAM’s leadership position across brokerage, research, and financial advisory services.
Details of the Acquisition
- B&K Securities: A leading brokerage house catering to institutional and retail clients, is being acquired for ₹1,774.24 crore. The consideration will be split between ₹600.11 crore in cash and the issuance of 1 crore fully paid-up equity shares of 360 ONE WAM at ₹1,174.13 per share.
- B&K Finserv: To be acquired for ₹109.89 crore entirely through cash payment.
Upon regulatory approval and completion of the transactions, both entities will become wholly owned subsidiaries of 360 ONE WAM.
The acquisition of B&K Securities will enable 360 ONE to offer a comprehensive suite of brokerage, research, and execution services to domestic and foreign institutional investors. It will also expand the company’s client base and provide opportunities to integrate cutting-edge technology into its service delivery.
B&K Finserv’s inclusion will further complement 360 ONE’s financial ecosystem, enhancing its capabilities in lending and credit offerings.
Karan Bhagat, Founder, MD & CEO of 360 ONE WAM, commented, “This strategic acquisition underscores our commitment to delivering unparalleled value to our clients. By integrating B&K’s expertise in brokerage and research with our wealth and asset management platform, we aim to create a seamless and powerful client experience across diverse financial needs.”
The acquisition is subject to shareholder approval, regulatory clearances from SEBI, and stock exchanges. The company has stated its intent to complete the transaction swiftly while ensuring compliance with all necessary guidelines.
