360 ONE WAM To Acquire UBS’ India Wealth Management Business 

360 ONE WAM will acquire UBS’s wealth management business in India through its subsidiaries for ₹3.07 billion. As part of the agreement, UBS AG will purchase warrants equivalent to a 4.95% stake in 360 ONE WAM. 

The company said it will issue 20.50 million warrants on a preferential basis to UBS AG at ₹1,030 apiece, aggregating to ₹21.12 billion. These warrants, priced above the regulatory floor price set on April 17, can be converted into equity shares within 18 months from the date of allotment. UBS will pay 25% of the warrant price at the time of subscription and the remaining 75% upon conversion.

Both companies also plan to collaborate on asset management products and investment banking services. A joint committee led by senior leadership from both sides will be established to explore growth opportunities.