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.”