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Updated: April 22, 2025 08:19
Mumbai, April 18, 2025 – In a blockbuster move to upend India's wealth management sector, 360 ONE WAM Ltd (earlier IIFL Wealth) has unveiled a strategic partnership with global banking major UBS AG. The alliance will have UBS buy a 4.95% stake in 360 ONE WAM through the acquisition of 20.5 million warrants at ₹1,030 each, worth the deal at ₹3.07 billion. Under the alliance, 360 ONE WAM will buy UBS's India wealth business, while both companies will collaborate to look at broad growth prospects in onshore and offshore wealth management.
Key Highlights:
UBS to Buy 4.95% Stake:
UBS will subscribe to 20.5 million warrants in 360 ONE WAM at ₹1,030 per warrant, representing a 4.95% stake on conversion and an investment of ₹3.07 billion.
Acquisition of UBS India Wealth Business:
360 ONE WAM will acquire UBS's India wealth business, adding an experienced team and client book to its fold, enhancing its position further in the Indian HNI and ultra-HNI segment.
Strategic Collaboration:
The committee that is jointly established by the two firms will spearhead cooperation on new products, digital offerings, and cross-border propositions, building a complete range of onshore and offshore wealth management solutions.
Growth Focus:
The partnership plans to access India's fast-expanding wealth market, combining UBS's international footprint and 360 ONE's homegrown knowledge to tap into new client segments and distribution networks.
Leadership View:
A 360 ONE spokesperson said, "This alliance with UBS positions us for our next growth and innovation phase, introducing global best practices to Indian investors."
Outlook:
The acquisition will drive 360 ONE WAM's growth strategy forward, offering clients global-class wealth management solutions and establishing its leadership among India's wealth management companies.
Source: Company press release, stock exchange reports, April 18, 2025.
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