360 One WAM likely to raise up to Rs 2,250 cr via QIP, reports CNBC-Awaaz; shares fall 4%

360 One WAM likely to raise up to Rs 2,250 cr via QIP, reports CNBC-Awaaz; shares fall 4%

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

360 One WAM Ltd is likely to raise up to Rs 2,250 crore through a Qualified Institutional Placement (QIP), reported CNBC-TV18 on October 25 citing sources.

On October 24, Mumbai-based 360 One WAM said its board approved the QIP at a floor price of Rs 1,065.36 per share of face value of Re 1.

"The Stakeholders Relationship Committee has, at its meeting held today i.e. October 24, 2024, inter alia, considered and approved authorising the opening of the Issue today and the floor price at Rs 1,065.36 per equity share, based on the pricing formula as prescribed under the SEBI ICDR Regulations," said 360 One WAM in a stock exchange filing.

The indicative issue price for the QIP is Rs 1,013 per equity share, the channel reported.

At 11:35 am on October 25, 360 One WAM's shares on BSE were trading 3.6% lower at Rs 998.3 apiece.

On basis of indicative issue price, the QIP size represents equity dilution of 6.5% of pre-issue outstanding equity capital.

360 One WAM is likely to use the QIP proceeds for investment in wholly-owned subsidiary 360 ONE Prime Limited for augmenting its capital adequacy ratio, investments in its alternate asset management business managed by 360 ONE Alternates, general corporate purposes.

The transaction is managed by Motilal Oswal Investment Advisors Limited, IIFL Securities, and Jefferies India, serving as the book running lead managers (BRLMs) for the issue.

Last month, Reuters reported that UBS is in talks to form an Indian wealth management joint venture with 360 One WAM ONE.

The joint venture would help the Swiss bank to expand its Indian wealth business to 'high net worth individuals' from its existing focus on 'ultra high net worth individuals', two sources with direct knowledge of the matter told Reuters.

Globally, UBS had $4 trillion worth of invested assets at the end of June, while 360 One, previously known as IIFL Wealth Management, has Rs 5.21 lakh crore.