22-04-2025
UBS to invest Rs 2,112 crore in 360 ONE WAM via warrants; strategic wealth tie-up announced
By News Desk Published on April 22, 2025, 08:05 IST
Indian wealth management space, 360 ONE WAM Limited, one of India's largest independent wealth and asset management firms, announced a strategic collaboration with Swiss-based global financial powerhouse UBS AG. The partnership aims to jointly offer wealth management services to Indian clients both domestically and globally.
As part of the agreement, 360 ONE WAM will acquire the India onshore wealth management business of UBS AG, including its stock broking, distribution, and portfolio management services, for a total cash consideration of ₹307 crore. The transaction covers active assets under management worth approximately ₹26,000 crore as of December 31, 2024.
In parallel, UBS will also invest in 360 ONE WAM by subscribing to 2.05 crore warrants through a preferential allotment, priced at ₹1,030 per warrant, reflecting a 14% premium to the 3-day VWAP. This investment represents a 4.95% stake in the company post-conversion, subject to shareholder and regulatory approvals. The total investment by UBS will be ₹2,112 crore.
The deal also includes multiple definitive agreements: Collaboration Term Sheet (CSA-TS) for strategic cooperation
Securities Subscription Agreement (SSA) for warrant issuance
Business Transfer Agreements (BTA) covering stock broking, portfolio management, and distribution business
Transfer and Assignment Agreement (TAA) for the residual loan portfolio
All business transfers will be executed via a slump sale basis through 360 ONE's subsidiaries, namely 360 ONE Distribution Services Ltd., 360 ONE Portfolio Managers Ltd., and 360 ONE Prime Ltd.
Commenting on the development, Karan Bhagat, MD & CEO of 360 ONE, said, 'This collaboration marks a significant milestone in our journey to bring globally integrated wealth solutions to Indian and global clients. We aim to combine our domestic strength with UBS's international expertise to deliver unmatched value.'
Jin Yee Young, Co-Head of Global Wealth Management Asia Pacific at UBS, echoed the sentiment, saying the partnership will 'accelerate UBS's momentum in one of the world's fastest-growing wealth markets.'
The transaction is expected to close within six months, pending necessary regulatory approvals, including those from SEBI, NSE, and the Competition Commission of India.
360 ONE WAM currently manages over ₹5.79 lakh crore (USD 68 billion) in client assets and serves over 7,500 Ultra-HNI and HNI families. This move further solidifies its position as a market leader in India's wealth management industry.
Disclaimer: The above article is based on regulatory disclosures and company press releases. It does not constitute investment advice. Please consult your financial advisor before making investment decisions.
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