Shares of 360 ONE WAM Ltd rose over 2.7% on Wednesday, reaching ₹969.20 on the NSE, after the company informed the exchanges that its Board of Directors will meet on April 22, 2025, to consider a proposal for issuing equity shares and/or warrants through preferential allotment.
According to the company’s filing with stock exchanges, the board will evaluate the issuance of equity shares and/or warrants, along with determining the issue price. The proposed issue would be in accordance with SEBI (ICDR) Regulations, 2018 and the Companies Act, 2013, subject to necessary regulatory and statutory approvals. The company will also seek shareholders’ approval through a general meeting or postal ballot for the same.
As of 9:30 AM IST, the stock was trading at ₹969.20, up ₹25.45 or 2.70% from the previous close of ₹943.75. The stock touched an intraday high of ₹970 and a low of ₹950.05, with a market capitalization of ₹380.75 billion. The stock’s 52-week range stands between ₹691.40 and ₹1,318.00.
The move is seen as a step to raise capital for future growth and expansion plans. Investors reacted positively to the announcement, driving the stock higher in early trade.
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