360 One Wam

360 ONE WAM appointed Aashish Agarwal as chief executive officer with effect from 15 February 2027, designating him as a key managerial personnel. Founder Karan Bhagat continued as managing director until 26 July 2030 and took the additional title of vice-chairman and managing director from the same date. Agarwal joined from Jefferies, where he served as managing director and country head since April 2020, after thirteen years at CLSA and an early spell at Merrill Lynch. The company managed assets of more than Rs. 7.8 lakh crore, with recurring-fee earning assets of Rs. 3.42 lakh crore at the end of the June quarter. It reported net profit of Rs. 1,225 crore for the year to March and Rs. 330 crore for the June quarter, with recurring-fee revenue accounting for about three-quarters of total revenue.

Powered by Tijori

360 ONE WAM appointed Aashish Agarwal as chief executive officer with effect from 15 February 2027, designating him as key managerial personnel. Karan Bhagat continued as managing director until 26 July 2030 and was additionally appointed vice-chairman and managing director from the same date. Agarwal joined from Jefferies, where he had served as managing director and country head since April 2020, after 13 years at CLSA and an early spell at Merrill Lynch. The firm managed assets of more than Rs 7.76 lakh crore, with recurring-revenue assets of Rs 3,42,035 crore at the end of the June quarter. It reported net profit of Rs 330 crore on total revenue of Rs 870 crore for that quarter, with recurring-revenue retention at 74 basis points. Its revenue mix had shifted toward recurring fees, which accounted for 74.7% of revenue before the June quarter.

Powered by Tijori

Aug 28 (Reuters) - 360 One Wam Ltd ONEW.NS:

• 360 ONE WAM - AAM BOARD APPROVES ACQUISITION OF AIF BUSINESS FROM PML

Source text: ID:nBSE6tLDZQ

Further company coverage: ONEW.NS

(([email protected];))

Aug 3 (Reuters) - 360 One Wam Ltd ONEW.NS:

• UNIT GETS CERTIFICATE OF REGISTRATION FROM INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY

• UNIT GETS CERTIFICATE FROM IFSCA TO ACT AS REGISTERED FUND MANAGEMENT ENTITY (RETAIL)

Source text: ID:nBSE2X4cxY

Further company coverage: ONEW.NS

(([email protected];;))

BENGALURU, July 16 (Reuters) - Diary of India economic, corporate events on July 16

ECONOMIC, CORPORATE .BSE500 EVENTS:

AMC - After Market Close

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

(([email protected]))

The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Updates to add graphic.

By Katrina Hamlin

HONG KONG, May 18 (Reuters Breakingviews) - Prudential PRU.L, 2378.HK has a punchy plan to shake up its life insurance business in India: it's buying a controlling stake in Bharti Life Insurance. Tapping its new partner's telco and asset management customers is a risky alternative to the tried-and-tested model of distributing products via a bank but could be an ingenious way to kickstart growth.

The $38 billion group agreed to acquire 75% of Bharti Life from ​Bharti Life Ventures and 360 ONE Asset Management ONEW.NS for $389 million, it said on Sunday.

That means Prudential CEO Anil Wadhwani is doing a switcheroo: the transaction requires Pru to reduce its stake in an existing venture with ICICI Bank ICBK.NS to under 10%, from 22%, per the company. It could well go on to divest what remains, leaving Bharti as its key partner.

The Indian business is in need of a reboot. New business sales there fell 2% last year, and its ranking among private life insurers fell to fifth from third a year earlier. That was a disappointing result for what ought to be a high-growth market. The world’s most populous country has only 3% penetration in the life insurance space, Prudential reckons.

Wadhwani’s solution is a creative one. Insurers often lean on large banks like ICICI to reach potential policy buyers. But the target’s main attraction is Bharti Airtel’s BRTI.NS nearly 300 million smartphone customers in India, compared with ICICI’s roughly 80 million retail banking clients, per data from Bharti and BCG Matrix. Overlapping markets in Africa could also open up other emerging markets, while the telecom company's asset management arm could help Pru reach India’s high net worth individuals.

But making it work could be tough. JioBlackRock, a joint venture between BlackRock BLK.N and Jio Financial Services JIOF.NS, is tapping additional distributors to sell its products after trying a digital direct model that leaned on its connections to Reliance Jio, India’s largest telecoms group.

And while the deal price seems fair, it’s not a bargain, valuing the company at just over $500 million, or around 1.5 times its embedded value as of September. That’s in line with the average for rivals SBI Life Insurance SBIL.NS, HDFC Life Insurance HDFL.NS and the Life Insurance Corporation of India LIFI.NS, per Visible Alpha, and just below 1.6 times for ICICI Prudential Life Insurance ICIR.NS. Shareholders sent Pru’s stock down 2% in morning trade in Hong Kong. That's probably because Wadhwani's punt for better rewards in India comes with higher risks.

Follow Katrina Hamlin on Bluesky and Linkedin.

CONTEXT NEWS

Insurer Prudential said on May 17 that it has agreed to acquire a 75% stake in Bharti Life Insurance from ​Bharti Life Ventures and 360 ONE Asset Management for an initial cash consideration of $389 million, with a potential additional consideration of up to $78 million, subject to certain conditions.

Prudential’s Hong Kong-listed shares fell 2.26% to HK$116.8 in morning trade on May 18.

(Editing by Antony Currie; Production by Ujjaini Dutta)

((For previous columns by the author, Reuters customers can click on HAMLIN/[email protected]; Reuters Messaging: [email protected]))

May 17 (Reuters) - Prudential PRU.L on Sunday said it has agreed to acquire a 75% stake in Bharti Life Insurance Company, from Bharti Life Ventures and 360 ONE Asset Management ONEW.NS, as part of a strategic repositioning of its India operations.

• Prudential said it will acquire a controlling stake in Bharti Life Insurance for initial cash consideration of 35 billion rupees ($364.74 million), payable on completion. An additional 7 billion rupees is potentially payable on the fulfillment of certain conditions that the Hong Kong and London-listed insurer did not specify.

• Upon completion of the deal, Prudential said its Indian operations will consist of majority-owned Bharti Life Insurance and Prudential HCL Health Insurance, and minority shareholdings in two listed entities, namely 35% of ICICI Prudential Asset Management Company IICL.NS and 22% in ICICI Prudential Life Insurance Company ICIR.NS.

• Prudential is required to reduce its shareholding in ICICIPru Life to under 10% to secure regulatory approval for the deal, the company said, adding that it is engaging with regulatory authorities on this process.

• The deal is a strategic move to secure majority ownership of a life insurance business in India, a highly attractive market for Prudential, and enables the insurer to work closely with Bharti Enterprises' other businesses and related entities, the statement added.

• Bharti Life will also look into securing strategic distribution agreements with Bharti Airtel BRTI.NS and 360 ONE as part of the deal, the statement said.

($1 = 95.9600 Indian rupees)

(Reporting by Rhea Rose Abraham in Bengaluru; Editing by Chizu Nomiyama )

(([email protected]))

** Shares of India's 360 One Wam ONEW.NS fall 4.84% to 1,054.70

** Wealth and asset manager report Q4 consol profit of 2.89 billion rupees ($30.82 million), up 15.68% y/y, helped by strong transaction and brokerage income

** Revenue stands at 11.15 billion rupees, up ~27% y/y; AUM up 16% y/y at 6.74 trillion rupees

** Kotak maintains "add" rating but cuts PT to Street-low of 1,250 rupees from 1,300 rupees - data compiled by LSEG

** Brokerage says earnings beat was driven by non-recurring income, while operating costs rose and newer businesses remain loss-making

** Trading volume at 4.07 mln shares, nearly 4x their 30-day average

** YTD, ONEW down 11.6%

($1 = 93.7713 Indian rupees)

(Reporting by Bipasha Dey in Bengaluru)

(([email protected];))

April 21 (Reuters) - 360 One Wam Ltd ONEW.NS:

• 360 ONE WAM LTD MARCH-QUARTER CONSOL PROFIT 2.89 BILLION RUPEES

• 360 ONE WAM LTD MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 11.15 BILLION RUPEES

• 360 ONE WAM LTD - APPROVES DIVIDEND OF 6 RUPEES PER SHARE

Further company coverage: ONEW.NS

(([email protected];))

April 20 (Reuters) - 360 One Wam Ltd ONEW.NS:

• 360 ONE WAM LTD - GLOBAL ASSET MANAGEMENT RECEIVES IN-PRINCIPLE IFSCA APPROVAL AS FUND MANAGEMENT ENTITY (RETAIL)

Source text: ID:nNSE23lXwL

Further company coverage: ONEW.NS

(([email protected];))

Jan 15 (Reuters) - 360 One Wam Ltd ONEW.NS:

• 360 ONE WAM LTD DEC-QUARTER CONSOL PROFIT 3.27 BILLION RUPEES

• 360 ONE WAM LTD DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 11.81 BILLION RUPEES

Source text: ID:nBSEb7rBDT

Further company coverage: ONEW.NS

(([email protected];))

Recasts, adds source-based information throughout

By Gopika Gopakumar and Vibhuti Sharma

Jan 7 (Reuters) - TPG Capital is in talks to buy a stake of up to 20% in Indian securities firm IIFL Capital Services IIFS.NS, according to two sources familiar with the deal.

Due diligence is underway on the deal, they said. If completed, the deal could make TPG a strategic investor with a say in management decisions, marking the latest in a series of foreign bets on the Indian financial sector.

U.S. buyout group TPG TPG.O, TPG Capital's parent, declined to comment, while IIFL Capital Services did not respond to a request for comment.

Earlier on Wednesday, local newspaper the Economic Times reported that TPG was closing in on a deal to acquire 30% to 40% of IIFL Capital Services. The deal size was estimated to be in the range of 36.36 billion rupees to 48.48 billion rupees ($404.3 million to $539.1 million).

Both Reuters sources said the deal would be smaller with an initial purchase of up to 20%.

Reuters could not determine the size of the deal.

IIFL Capital Services shares rose as much as 5.3% to 411.30 rupees in early trading before paring gains to trade 1.4% higher in the afternoon session. Last year, its shares rose about 11%.

IIFL Group founder Nirmal Jain has said he plans to enter new businesses like alternative investment funds and private credit, one of the sources said.

Wealth management could also be an area targeted by the firm, the second source said.

Assets under management of the country's wealth management industry are expected to more than double to $2.3 trillion by the 2028-2029 financial year from $1.1 trillion in 2023-2024, according to a Deloitte report from last year.

(Reporting by Vibhuti Sharma and Gopika Gopakumar in Mumbai; Additional reporting by Mridula Kumar in Bengaluru; Editing by Janane Venkatraman and Thomas Derpinghaus)

(([email protected]))

Nov 4 (Reuters) - 360 One Wam Ltd ONEW.NS:

• 360 ONE WAM LTD - CO AND UBS AG EXECUTE COLLABORATION AGREEMENT

• 360 ONE WAM LTD - STRATEGIC COLLABORATION FOR CLIENT REFERRALS AND WEALTH MANAGEMENT

Source text: ID:nNSE4XWvgQ

Further company coverage: ONEW.NS

(([email protected];;))

Oct 30 (Reuters) - 360 One Wam Ltd ONEW.NS:

• AFFIRMA CAPITAL: CO, 360 ONE ASSET AND OTHERS AGREED TO INVEST UP TO $56 MILLION IN RMSI LTD

Source text: [ID:]

Further company coverage: ONEW.NS

(([email protected];;))

Sept 29 (Reuters) - 360 One Wam Ltd ONEW.NS:

• CONSUMMATES BUSINESS TRANSFER AGREEMENTS WITH CREDIT SUISSE, UBS AFTER APPROVALS

Source text: ID:nNSE88xyVP

Further company coverage: ONEW.NSUBSG.S

(([email protected];))

Aug 14 (Reuters) - 360 One Wam ONEW.NS:

• UNIT RECEIVES SEBI APPROVAL FOR SPECIALIZED INVESTMENT FUND

Source text: ID:nNSE2tsRHM

Further company coverage: ONEW.NS

(Reporting by Rudra Singh)

(([email protected];))

Aug 13 (Reuters) - 360 One Wam Ltd ONEW.NS:

• 360 ONE WAM LTD- EXPEDITING SOME MILESTONES,TIMELINES IN AGREEMENTS WITH UBS

• 360 ONE WAM LTD- AMENDMENT DOES NOT HAVE MATERIAL IMPACT ON TRANSACTIONS

Source text: [ID:]

Further company coverage: ONEW.NS

(([email protected];))

BENGALURU, May 20 (Reuters) - Diary of India economic, corporate events on May 20

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

(([email protected]))

** Shares of 360 ONE WAM ONEW.NS rise 4.2%, gains for second straight session post announcement of deal to buy UBS' India wealth business

** Jefferies sees deal as structural positive on wealth management side and says it offers potential to get access to institutional clients

** ONEW's ability to offer global wealth solution to its existing Indian clients and offering domestic solutions to large global client base of UBS AG is likely to drive significant edge over competitors, Citi Research says

** Both brokerages rate ONEW 'buy'

** Analysts, on average, rate ONEW at "buy"; median price target is 1,173 rupees - data compiled by LSEG

** ONEW down ~16% so far in 2025

(Reporting by Vijay Malkar)

(([email protected];))

Recasts and writes through with UBS executives' comments

By Selena Li and Hritam Mukherjee

HONG KONG/BENGALURU, April 22 (Reuters) - UBS UBSG.S said on Tuesday it would sell its Indian wealth business to 360 ONE WAM ONEW.NS and take a stake of nearly 5%, worth some $220 million, in the Mumbai-based asset manager, adding that it might consider boosting its ownership.

360 ONE's shares shot up 7% in Mumbai afternoon trade.

The transaction underscores the Swiss bank's efforts to consolidate global business platforms and sharpen its focus in key markets amid regulatory concerns about its size since it took over Credit Suisse in 2023.

Bain-backed 360 ONE said in a statement it would buy most of the bank's wealth and asset management business in India - which had been largely Credit Suisse operations - for 3.07 billion rupees ($36 million). That includes the local stock broking and distribution business, discretionary and non-discretionary portfolio management services business and residual loan portfolio.

UBS will, however, take over serving 360 ONE's clients in Singapore, subject to regulatory approvals. The companies will also explore opportunities for collaboration on asset management products and investment banking services.

Despite the increasing number of wealthy individuals in India, one of the world's fastest-growing economies, foreign private banks have struggled to boost revenues in the country due to stiff competition with deeply entrenched local players and regulatory limitations, leading many to exit the market.

Jin Yee Young, co-head of UBS global wealth management APAC, told Reuters in an interview that the deal brings together "complementary" elements that the two firms have.

She said that UBS, which plans to acquire warrants for a 4.95% stake in 360 ONE - worth about 19 billion rupees ($223 million) as of Monday's close - could boost that holding but did not elaborate.

Going forward, UBS India's operations will be focused on investment banking and equity capital markets, Mickey Doshi, who heads UBS India and joined the firm from Credit Suisse, said in the same interview.

The fixed-income business, which Credit Suisse was active in prior to the merger, is no longer a focus, he said.

Doshi did not say whether UBS will give up the local banking licence required for the fixed-income business. UBS in 2013 gave up an Indian banking licence but acquired a fresh one after taking over Credit Suisse.

UBS shares dipped 0.7% in Zurich morning trade.

ASIA WEALTH PARTNERSHIPS

UBS' wealth partnership model in India contrasts with its efforts to expand in other Asian wealth markets in recent years.

In 2019, it signed a deal with Sumitomo Mitsui Trust in Japan to create a venture, majority-owned by UBS, expanding services for wealthy and ultra-wealthy clients. In March this year, UBS acquired full ownership of a securities joint venture in China where it serves wealth clients.

Under the UBS-360 ONE deal, clients from both firms will have access to onshore and offshore wealth management solutions, 360 ONE said.

360 ONE's ability to offer global wealth solutions to its Indian client base and offer domestic solutions to UBS' large global client base, especially institutional clients, is likely to give it a "significant edge over competitors", analysts at Citi said in a research note.

360 ONE provides investment and financial advice to more than 7,500 wealthy and ultra-wealthy families in India, with $68 billion in assets under management.

UBS also runs trading, global banking and asset management businesses in India and has several large service centres across the country.

($1 = 85.2000 Indian rupees)

(Reporting by Selena Li in Hong Kong, Hritam Mukherjee and Kashish Tandon in Bengaluru and Ira Dugal in Mumbai; Editing by Himani Sarkar and Edwina Gibbs)

(([email protected]; X: @MukherjeeHritam;))

** Shares of wealth and asset manager 360 One Wam ONEW.NS rise as much as 5% to 990.60 rupees

** Co says it will consider fundraising via issuance of shares or warrants

** Stock on track to rise for a fourth straight session, gaining about 20% in the period

** Nearly 2.5 mln shares traded, double their 30-day avg

** Stock down 25% so far in 2025 compared to a 23.5% drop in peer UTI Asset Management UTIA.NS

(Reporting by Nishit Navin)

(([email protected];))

April 16 (Reuters) - 360 One Wam Ltd ONEW.NS:

• TO CONSIDER ISSUE OF SHARES AND/OR WARRANTS

Source text: ID:nBSE9DbtDr

Further company coverage: ONEW.NS

(([email protected];;))

April 15 (Reuters) - 360 One Wam Ltd ONEW.NS:

• INDIA COMPETITION REGULATOR: APPROVES PURCHASE OF STAKE IN AKASA AIR BY PI OPPORTUNITIES FUND, CLAYPOND CAPITAL PARTNERS, 360 ONE

Source text: [ID:]

Further company coverage: ONEW.NS

(([email protected];))

April 11 (Reuters) - 360 One Wam Ltd ONEW.NS:

• TO CONSIDER FUND RAISING OF UP TO 2.50 BILLION RUPEES VIA DEBT SECURITIES

Source text: ID:nBSE7R8xrr

Further company coverage: ONEW.NS

(([email protected];;))

March 17 (Reuters) -

• HSBC AND UBS EXPAND INDIA WEALTH MANAGEMENT ARMS AFTER IPO BOOM- FT

• UBS IS LOOKING TO ACQUIRE SHARES IN ONE OF INDIA’S LARGEST WEALTH MANAGEMENT COMPANIES 360 ONE- FT

Source: https://tinyurl.com/5b4987pa

(([email protected];))

** Shares of wealth management company's 360 One Wam ONEW.NS rise 4.3% to 1,053 rupees on expectations of gains from its recent acquisition of B&K Securities

** The company's management reiterated confidence in the growth potential from the acquisition in a meeting with brokerages on February 24

** Brokerages see the B&K acquisition as a positive move to enhance ONEW’s capital market services

** Centrum Broking expects equity broking revenue to grow from 700 million rupees or 3% of total revenue, to 2 billion rupees or 9% of total revenue with B&K’s contribution

** Jefferies starts coverage with a "buy", while Motilal Oswal sees potential for a strong research-backed brokerage platform

** Citi predicts higher profitability due to an expanded wealth client base

** The average rating from 11 analysts is “buy,” with a median target price of 1,170 rupees, 11.1% above the current level - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Feb 6 (Reuters) - India's Akasa Air said on Thursday it is raising fresh capital from the investment offices of Wipro WIPR.NS founder Azim Premji and Manipal Hospitals Chairman Ranjan Pai, as well as funds of wealth management firm 360 ONE ONEW.NS.

The airline, among India's newest carriers, did not disclose any financial terms.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)

(([email protected]; Mobile: +91 9591011727;))

** IIFL Finance IIFL.NS rises 3.3%; wealth management firms 360 One Wam ONEW.NS and 5paisa Capital PAIS.NS gain 4.7% and 3.4%, respectively

** Income tax authorities have concluded searches at their premises, IIFL Finance, 360 One Wam and 5paisa Capital say

** IIFL rated "strong buy", ONEW rated "buy" on avg; PAIS not rated - LSEG

** YTD, ONEW's ~18% loss steepest among three; IIFL and PAIS down ~12% and ~15%, respectively

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Feb 4 (Reuters) - 360 One Wam Ltd ONEW.NS:

• INCOME TAX DEPARTMENT CONCLUDES SEARCH AT 360 ONE WAM

Source text: ID:nBSElgF2Q

Further company coverage: ONEW.NS

(([email protected];;))

Jan 28 (Reuters) - 360 One Wam Ltd ONEW.NS:

• NSE LEVIES PENALTY OF 1.2 MILLION RUPEES

Source text: ID:nNSE8PL36r

Further company coverage: ONEW.NS

(([email protected];;))