In a landmark move within India’s wealth management industry, 360 ONE WAM Ltd (formerly IIFL Wealth Management) has announced a strategic partnership with UBS AG, involving a capital infusion and business acquisition.
As part of the partnership, UBS will invest approximately ₹2,000 crore in 360 ONE WAM through a preferential allotment of warrants. The company will issue 1.94 crore convertible warrants at an issue price of ₹1,030 per warrant, which upon conversion, will translate to a 4.95% stake in the company on a fully diluted basis.
This investment is expected to strengthen 360 ONE WAM’s capital position while marking a long-term strategic alignment with UBS, one of the world’s most prominent global financial institutions.
Additionally, 360 ONE WAM will acquire the domestic wealth management and broking business of UBS India for ₹307 crore, a deal that adds ₹26,000 crore in assets under management (AUM) and expands its ultra-high-net-worth (UHNW) client base.
UBS India’s seasoned relationship managers and client portfolios will be integrated into 360 ONE WAM’s platform, enabling the firm to offer broader capabilities and global solutions tailored to the Indian wealth market.
Both the acquisition and the preferential issue are subject to customary regulatory and shareholder approvals.
Disclaimer: The above information is based on company announcements and regulatory filings. Please consult a certified financial advisor before making any investment decisions.
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