360 ONE WAM to acquire UBS India wealth biz in Rs 307 crore deal
360 ONE WAM Ltd on Tuesday announced the acquisition of UBS AG's India wealth management business in a transaction valued at Rs 307 crore, further strengthening its presence in the domestic wealth management sector.
The deal includes stock broking, portfolio management, and distribution businesses, alongside the residual loan portfolio of wealth management clients, with active assets under management of approximately Rs 26,000 crore as of December 31, 2024.
As part of the agreement, 360 ONE WAM will issue 2.05 crore warrants to UBS AG at Rs 1,030 per warrant. Upon conversion, this will give UBS a 4.95% equity 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 also includes a broader strategic collaboration between the two firms as it will allow both companies to offer integrated onshore and offshore wealth management solutions. A joint committee will be formed to explore further growth opportunities under this alliance.
'This collaboration represents a strategic leap forward for both 360 ONE WAM and UBS AG—one that strengthens our position as a market leader in India and UBS's offering as the wealth manager of choice for Global Indians,' said Akhil Gupta, Chairman, 360 ONE WAM. Jin Yee Young, Co-Head Global Wealth Management Asia Pacific, UBS said, 'We are proud of this latest milestone and convinced that this strategic collaboration with 360 ONE will help accelerate our momentum in one of the world's most significant and fastest-growing markets. Together, we are best placed to serve our global Indian clients wherever they are as they seek greater opportunities, both domestically and globally.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
4 hours ago
- Newsweek
Satellite Images Show Giant Port Emerge at World's Biggest Construction Site
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Satellite imagery showed advances in construction of Oxagon, a floating industrial complex that is a key component of Saudi Arabia's Neom, currently the world's largest construction site. Newsweek has contacted Neom for comment. Why It Matters The new port city has a strategic location in one of the world's busiest maritime trade routes connecting Asia, Africa, and Europe. Neom is the flagship element of Saudi Arabia's Vision 2030 aimed at diversifying its economy away from oil dependence. Oxagon, The Line and the Trojena Ski resort are among its most ambitious pieces. Neom has recently announced several progress reports, with a new CEO now in charge of resolving the project's budget overruns and delays amid multiple simultaneous, ambitious, and costly projects. What To Know Images captured by the Copernicus Sentinel-2 satellites showed rapid progress made on Oxagon city and port, set to become one of the world's most advanced port terminals, the facility lies on the Red Sea in northwestern Saudi Arabia. Drag slider compare photos The Port of NEOM has received Saudi Arabia's first fully automated, remote-controlled cranes, marking a key step in boosting Red Sea trade, automation, and tech-driven job creation, the company announced this week on LinkedIn. The Red Sea corridor is a major shipping route linking Asia via the Indian Ocean, to Europe and Africa via the Suez Canal. Oxagon's proximity to the canal, which facilitates almost 12% of global trade, provides it with a strategic edge, according to Blackridge Research & Consulting, an Indian-based specialized market research firm. The port is part of an envisioned cutting-edge industrial city which will fully rely on renewable energy and aims to host some 90,000 inhabitants by 2030, according to the government's vision. Update🚨: Recent images posted by Giles Pendleton (Chief Operating Officer THE LINE at NEOM | Chief Development Officer) of Oxagon, showing immense progress in infrastructure works + Oxagon village is about to have more construction work coming as the site being prepared. — Saud (@Saudfromabove) April 13, 2025 Saudi Arabia's Crown Prince Mohammed bin Salman had announced the establishment of Oxagon in 2021. "It will contribute to Saudi Arabia's regional trade and commerce, and support creating a new focal point for global trade flows," Al-Arabiya's English website quoted him as saying. Neom's Green Hydrogen Company (NGHC) is developing the world's largest green hydrogen facility—a $8.4 billion project— at Oxagon. What People Are Saying Melissa Blake, Port Director at Neom wrote on Linkedin: "Port of Neom is excited to receive the first batch of cranes and other cargo handling equipment as we come another step closer to delivering our vision." Saudi Arabia's Government Vision 2030's website: "Sitting at the crossroads of 3 continents, Oxagon is a place where people, nature and technology come together in harmony." Vishal Wanchoo, CEO of Oxagon said in May: "Industrial development cannot continue at the expense of people or the environment. We're offering a compact, mixed-use city where industry, nature, and community coexist." What Happens Next The port is planned to act as the main trade gateway to northwestern Saudi Arabia, with a smart logistics hub, connects Asia, Europe, and Africa.
Yahoo
5 hours ago
- Yahoo
Forecast: in 1 year, the Vodafone share price could turn £1,000 into…
The Vodafone (LSE:VOD) share price is off to a decent start in 2025, climbing by almost 12%, putting it ahead of its parent index. That's certainly a welcome change of pace compared to the downward trajectory the business has been on since early 2022. And looking at its latest results, this performance is also backed up by improving financials. Operations in Africa continue to grow rapidly by double-digits as the adoption of its mobile payment solution, M-PESA, captures further market share. Growth in the UK is now set to reignite thanks to the recently completed merger with Three, and performance across Europe's also bouncing back (with the exception of Germany). At the same time, higher free cash flow generation, along with non-core disposals, has paved the way for further debt reduction, improving the health of the balance sheet. And when excluding non-cash impairment charges, operating profits during the 12 months leading to March 2025 jumped 12% from €3.67bn to €4.1bn. Needless to say, this is all pretty encouraging news. And it seems CEO Margherita Della Valle's efforts to right the ship are finally starting to bear fruit. So if this turnaround continues, how much money could investors make from the recovery by buying £1,000 worth of shares today? The progress made so far has helped boost institutional analyst sentiment towards this business. While most continue to be cautious with a Hold recommendation, like the team at Barclays, some are more bullish. For example, UBS sees the fair value of Vodafone shares at 120p by this time next year if the firm can achieve its expected post-merger with Three operational efficiencies. JP Morgan seems to have drawn a similar conclusion with a price target of 110p, citing the incoming cost savings from the ongoing restructuring and expected performance boost in the UK market. If these projections prove accurate, a £1,000 investment today could be worth up to £1,564 within the next 12 months. As previously mentioned, not every institutional analyst is as optimistic as UBS or JP Morgan. Going back to Barclays, the banking giant has highlighted its concerns about competitive pressures in Germany – a fear shared by Goldman Sachs. According to their analysis, the fair value of the Vodafone share price is between 75p and 85p, which is roughly in line with where the stock currently trades. So which analysts should investors listen to? The group's weak performance in Germany is problematic. Vodafone has been losing market share for a number of years. Competitors have been offering cheaper alternatives at a seemingly higher quality based on customer reviews. Under Della Valle, client attrition in Germany has slowed (excluding the recent regulatory changes surrounding bulk TV contracts). Management's now allocating capital to improve the quality of customer services as well as accelerate the rollout of 5G & Fibre in the pursuit of boosting its net promotor score. On paper, this strategy sounds sensible. But whether it can be successfully executed remains a big question mark. And with 40% of underlying earnings stemming from this market, a failure to get Germany back on track could significantly adversely impact the business even if other markets continue to perform well. With that in mind, I'm leaning more towards the side of caution and keeping this business on my watchlist. The post Forecast: in 1 year, the Vodafone share price could turn £1,000 into… appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Zaven Boyrazian has no position in any of the shares mentioned. The Motley Fool UK has recommended Barclays Plc and Vodafone Group Public. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
- Yahoo
Why Lululemon Athletica Inc. (LULU) Crashed On Friday
We recently published a list of . In this article, we are going to take a look at where Lululemon Athletica Inc. (NASDAQ:LULU) stands against other Friday's worst-performing stocks. Lululemon fell by 19.8 percent on Friday to finish at $265.27 apiece following a disappointing earnings performance and outlook guidance for the rest of the year. In its financial statement, Lululemon Athletica Inc. (NASDAQ:LULU) said net income in the first quarter of the year dipped by 2 percent to $314 million from $321 million in the same period last year. Net revenues, on the other hand, grew by 7 percent to $2.37 billion from $2.2 billion year-on-year. A store employee in an athletic apparel store restocking merchandise. For the second quarter of the year, Lululemon Athletica Inc. (NASDAQ:LULU) expects net revenue to be in the range of $2.535 billion to $2.56 billion, representing growth of 7 percent to 8 percent. For the full-year period, it said targets net revenue to be in the range of $11.15 billion to $11.3 billion, representing growth of 5 to 7 percent. Following the guidance, JPMorgan and UBS both reduced their price targets for the company to $303 and $290, respectively, from $389 and $330 previously. Overall, LULU ranks 1st on our list of Friday's worst-performing stocks. While we acknowledge the potential of LULU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
