Leading wealth and asset management firm 360 ONE WAM Limited (formerly IIFL Wealth) has announced the acquisition of UBS AG’s India onshore wealth management and broking business in a cash deal valued at ₹307 crore, marking a significant consolidation move in the Indian wealth management industry.
The acquisition includes UBS’s portfolio management, stock broking, and distribution arms catering to Indian clients, with active assets under management of approximately ₹26,000 crore as of December 31, 2024. The transaction will be executed on a slump sale basis through 360 ONE’s subsidiaries: 360 ONE Distribution Services Ltd., 360 ONE Portfolio Managers Ltd., and 360 ONE Prime Ltd.
The deal signifies UBS’s strategic exit from onshore retail and wealth operations in India while allowing it to continue serving Indian clients through global platforms. For 360 ONE WAM, the acquisition strengthens its foothold in the ultra-high-net-worth and high-net-worth segments by expanding its client base and asset book.
In a parallel strategic move, UBS AG will also invest ₹2,112 crore in 360 ONE WAM by subscribing to 2.05 crore warrants at a price of ₹1,030 per warrant—representing a premium over market price. Once converted, this would translate to a 4.95% equity stake in the company. This investment reflects the two firms’ intention to collaborate strategically in serving Indian-origin clients globally.
The acquisition and investment are subject to regulatory and shareholder approvals, including from SEBI, NSE, and the Competition Commission of India, and are expected to be completed within the next six months.
This deal is seen as a landmark step for 360 ONE WAM, which currently manages over ₹5.79 lakh crore (USD 68 billion) in assets across wealth and asset management segments. The integration of UBS’s India business is expected to enhance its leadership in the fast-growing wealth management space.
Disclaimer: This article is based on company disclosures and regulatory filings. It is not investment advice. Please consult a qualified financial advisor before making any investment decisions.
