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Time of India
9 hours ago
- Business
- Time of India
US-based Capital group buys 360 ONE WAM shares for Rs 245 cr
Financial services company Capital group on Thursday bought shares of asset and wealth management firm 360 ONE WAM for Rs 245 crore through an open market transaction . US-based Capital group, through its affiliate New World Fund, Inc, purchased 20.94 lakh shares or 0.52 per cent stake in Mumbai-based 360 ONE WAM, as per the bulk deal data on the BSE. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo The transaction was valued around Rs 245.02 crore, executed at an average price of Rs 1,170 apiece. After the latest transaction, Capital group's combined holding in 360 ONE WAM through its affiliates -- Capital Income Builder and Smallcap World Fund, Inc -- rose to 12.11 per cent from 11.59 per cent. Detail of the sellers of 360 ONE WAM's shares could not be ascertained on the exchange. Live Events Shares of 360 ONE WAM fell 2.12 per cent to close at Rs 1,165 per piece on the BSE. On Tuesday, 360 ONE WAM said that Multi Commodity Exchange Clearing Corp Ltd (MCXCCL) slapped a penalty of Rs 25 lakh on its wholly-owned subsidiary 360 ONE distribution services for allegedly violating the norms. "The penalty is levied by MCXCCL for alleged false reporting of excess collateral by 360 ONE DSL, a wholly-owned subsidiary of the company, on certain days during the period October 2022 to September 2023," the company said in a regulatory filing. However, 360 ONE WAM said that its arm 360 ONE DSL will appeal against the imposition of this penalty before the appropriate authority of the exchange. The company also clarified that there will be no material impact on the company's financials or operations due to levy of the penalty.
Economic Times
9 hours ago
- Business
- Economic Times
US-based Capital group buys 360 ONE WAM shares for Rs 245 cr
Financial services company Capital group on Thursday bought shares of asset and wealth management firm 360 ONE WAM for Rs 245 crore through an open market transaction. ADVERTISEMENT US-based Capital group, through its affiliate New World Fund, Inc, purchased 20.94 lakh shares or 0.52 per cent stake in Mumbai-based 360 ONE WAM, as per the bulk deal data on the BSE. The transaction was valued around Rs 245.02 crore, executed at an average price of Rs 1,170 apiece. After the latest transaction, Capital group's combined holding in 360 ONE WAM through its affiliates -- Capital Income Builder and Smallcap World Fund, Inc -- rose to 12.11 per cent from 11.59 per cent. Detail of the sellers of 360 ONE WAM's shares could not be ascertained on the exchange. Shares of 360 ONE WAM fell 2.12 per cent to close at Rs 1,165 per piece on the BSE. ADVERTISEMENT On Tuesday, 360 ONE WAM said that Multi Commodity Exchange Clearing Corp Ltd (MCXCCL) slapped a penalty of Rs 25 lakh on its wholly-owned subsidiary 360 ONE distribution services for allegedly violating the norms. "The penalty is levied by MCXCCL for alleged false reporting of excess collateral by 360 ONE DSL, a wholly-owned subsidiary of the company, on certain days during the period October 2022 to September 2023," the company said in a regulatory filing. ADVERTISEMENT However, 360 ONE WAM said that its arm 360 ONE DSL will appeal against the imposition of this penalty before the appropriate authority of the exchange. The company also clarified that there will be no material impact on the company's financials or operations due to levy of the penalty. (You can now subscribe to our ETMarkets WhatsApp channel)
