360ONE

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

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** 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)

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Adds details, background from paragraph 3

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.

It said late Indian billionaire Rakesh Jhunjhunwala's family would also pour additional capital into the airline. The family is one of the biggest backers of the low-cost carrier.

Akasa, which flies a fleet entirely made up of Boeing 737 MAX aircraft, is in a regulatory soup over alleged rule violations, including those on training guidelines.

The carrier flies to 22 domestic and 5 international cities with its operational fleet of 27 MAX single-aisle jets. It has 226 more aircraft on order with Boeing.

Akasa ended 2024 with a market share of 4.6%, making it India's third-largest airline after IndiGo INGL.NS and the combined Air India group – which together control nearly 90% of India's domestic aviation market.

"Akasa Air continues to be well-capitalised, and these investments allow us to secure enduring, sustainable growth, with a financial safeguard to weather any unexpected challenges, thus reinforcing our readiness for the future," finance chief Ankur Goel said.

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

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** 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)

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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

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NEW DELHI/MUMBAI, Jan 28 (Reuters) - India's income tax authorities are undertaking search operations at three IIFL group companies, IIFL Finance IIFL.NS, 360 One Wam ONEW.NS and IIFL Securities, two sources familiar with the development said on Tuesday.

It was not immediately clear what information was being sought by the tax officials as employees present in offices of the companies were not allowed to use phones, one of the sources said.

Shares of 360 One, down 7.6%, fell the most among IIFL group stocks, while IIFL Finance shares were down 3.5% and IIFL Capital Services IIFS.NS lost about 2.1% in mid-day trade.

IIFL group, the companies and the income tax department did not immediately respond to Reuters' request seeking comments.

(Reporting by Siddhi Nayak in Mumbai and Nikunj Ohri in New Delhi; Editing by Mrigank Dhaniwala)

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Jan 27 (Reuters) - 360 One Wam Ltd ONEW.NS:

• 360 ONE WAM DEC-QUARTER CONSOL NET PROFIT 2.76 BILLION RUPEES

• 360 ONE WAM DEC-QUARTER CONSOL TOTAL INCOME 9.34 BILLION RUPEES

• 360 ONE WAM - APPROVES ISSUE OF UPTO 3.3 MILLION WARRANTS ON PREFERENTIAL ISSUE BASIS

• 360 ONE WAM - PREFERENTIAL ISSUE AT 1,174.13 RUPEES/WARRANT

• 360 ONE WAM LTD - ACQUISITION OF BATLIVALA & KARANI SECURITIES INDIA FOR 17.7 BILLION RUPEES

• 360 ONE WAM - ACQUISITION OF ENTIRE STAKE OF B&K FINSERV FOR 1.1 BILLION RUPEES

Source text: ID:nBSE1cGT6j

Further company coverage: ONEW.NS

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Jan 23 (Reuters) - 360 One Wam Ltd ONEW.NS:

• BTSL RECEIVES SEBI APPROVAL FOR ACQUISITION OF MONEYGOALS SOLUTIONS

Source text: ID:nNSE4tYVY4

Further company coverage: ONEW.NS

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Jan 22 (Reuters) - 360 One Wam Ltd ONEW.NS:

• BOARD TO CONSIDER EQUITY SHARES, WARRANTS ISSUE

Source text: ID:nBSE3r7Fyv

Further company coverage: ONEW.NS

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

• SEPT-QUARTER CONSOL NET PROFIT 2.45 BILLION RUPEES

• SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 8.63 BILLION RUPEES

Source text for Eikon: ID:nNSE6chCvd

Further company coverage: ONEW.NS

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** Shares of wealth management firm 360 One Wam ONEW.NS rise 4.3% to 1,066.35 rupees

** Stock has gained about 6% this week, eyes first weekly gain in four and set to snap longest weekly losing streak since May 2023

** Bulk of the gains after UBS initiates coverage of ONEW with "buy", TP of 1,250 rupees on Wednesday

** UBS expects core profitablity to register 22.7% CAGR (compound annual growth rate) in the next three years

** Says valuations remain attractive with market still underestimating ONEW's EPS growth potential

** The mean rating of the 10 analysts tracking ONEW is "buy"; median price target is 1169.50 rupees - LSEG data

** ONEW shares up 50% in 2024 so far, outperforming a 21% rise in Nifty 500 index .NIFTY500 of which it is a constituent

(Reporting by Bharath Rajeswaran in Bengaluru)

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By Siddhi Nayak and Sarita Chaganti Singh

MUMBAI/NEW DELHI, Sept 27 (Reuters) - UBS UBSG.S is in talks to form an Indian wealth management joint venture with Mumbai-based 360 One WAM ONEW.NS, two sources with direct knowledge of the matter told Reuters.

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', they said.

India's wealth management sector is being driven by rapid economic growth and a domestic market rally. It was worth $429.1 billion in 2023 and is forecast to grow at a compound annual rate of 4.6% between 2025 and 2029, TechSci Research said.

Globally, UBS had $4 trillion worth of invested assets at the end of June, while 360 One, previously known as IIFL Wealth Management, has 5.21 trillion rupees ($62.28 billion).

UBS declined to comment, while 360 One said it did not comment on speculation.

UBS has held preliminary talks with 360 One and plans to hold a stake of up to 26% in the venture, with a deal expected in the next few months, said the sources, who declined to be named as they were not authorised to talk to the media.

While Switzerland's biggest bank has been exploring the possibility of setting up a wealth joint venture in India and would be open to owning a majority stake, no decision had been taken about a partner, another source said.

The bank's Indian presence has been bolstered by the integration of the local operations of Credit Suisse, which it last year in a Swiss government engineered rescue.

If the India joint venture plan materializes, it would be the second country in the Asia Pacific region where UBS would enter into an equity partnership with a local player.

UBS signed a deal with Sumitomo Mitsui Trust in Japan in 2019 to create a venture majority-owned by the Swiss bank that expanded the services both firms can offer their wealthy and ultra-wealthy customers.

($1 = 83.5120 Indian rupees)

(Reporting by Sarita Chaganti Singh in New Delhi and Siddhi Nayak in Mumbai; Editing by Alexander Smith)

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Sept 26 (Reuters) - 360 One Wam Ltd ONEW.NS:

• AMALGAMATION OF MAVM ANGELS NETWORK INTO 360 ONE DISTRIBUTION SERVICES

Source text for Eikon: ID:nBSE33gG1m

Further company coverage: ONEW.NS

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

• 360 ONE WAM - DIVIDEND 2.5 RUPEES PER SHARE

Source text for Eikon: ID:nBSE7L7fz1

Further company coverage: ONEW.NS

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** India's ONGC ONGC.NS rises 3% and 360 One Wam ONEW.NS rises 1.6% after Jefferies adds to its India model portfolio

** Allocates 4 pct points weight to 360 One Wam, India's largest wealth manager, and 2.5 pct points weight to ONGC

** Brokerage trims weight in lenders due to margin pressures and in cement companies due to delayed price hikes

** Sees 360 One Wam as an attractive capital market play trading at a discount to other asset management companies

** Expects ONGC's profitability to improve due to reforms in gas pricing and higher oil realisation in terms of price

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Jefferies initiates coverage on Indian wealth management co stocks 360 One Wam ONEW.NS and Nuvama Wealth Management NUVA.NS with "buy"

** ONEW shares up as much as 3.9% at 748.40 rupees, while NUVA rises as much as 6% to record high of 5,350 rupees

** Indian wealth managers are well-placed to ride on country's economic growth, financialization of savings into capital markets, brokerage says

** Jefferies says 360 One is largest wealth manager with ultra-high net worth individuals focus, while Nuvama has diversified platform with growing wealth franchise

** Brokerage has street-high PT of 900 rupees for ONEW and 6,000 rupees for NUVA

** Jefferies says leading wealth managers would see 20%-22% profit CAGR over FY24-27E

** ONEW rated "strong buy" with median PT 748.50 rupees - LSEG data

** ONEW up 4% YTD, while NUVA up 48%

(Reporting by Sethuraman NR in Bengaluru)

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March 26 (Reuters) - INDIA GOVERNMENT:

• INDIA COMPETITION REGULATOR APPROVES SUBSCRIPTION TO CLASS B COMPULSORILY CONVERTIBLE PREFERENCE SHARES OF API HOLDINGS BY MEMG, 360 ONE

Further company coverage: ONEW.NS

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Feb 5 (Reuters) -

• INDIAN REAL ESTATE CONSULTANCY ANAROCK RAISES 2 BILLION RUPEES FUNDING FROM 360 ONE ASSET - STATEMENT

Source text for Eikon: [ID:]

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Jan 18 (Reuters) - 360 One Wam Ltd ONEW.NS:

• INTERIM DIVIDEND 4.5 RUPEES PER SHARE

• DEC-QUARTER CONSOL NET PROFIT 1.92 BILLION RUPEES VERSUS PROFIT 1.72 BILLION RUPEES

• DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 6.48 BILLION RUPEES VERSUS 5.17 BILLION RUPEES

Further company coverage: ONEW.NS

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** Shares of 360 One Wam ONEW.NS rises as much as 4.6% to 664.85 rupees

** Wealth and asset manager said it entered into an agreement to buy remaining 9% stake in venture capital firm MAVM Angels Network for 45.2 mln rupees ($542,959.25)

** Stock above 100- and 200-day avgs since late-June

** Including session's gains, ONEW up 47.3% YTD; on track to gain for third consecutive year

($1 = 83.2475 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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

• ENTERED SHARE PURCHASE AGREEMENT TO ACQUIRE BALANCE 9% OF EQUITY SHARE CAPITAL OF MAVM ANGELS NETWORK

• MAVM ANGELS NETWORK HAS BECOME A WHOLLY OWNED SUBSIDIARY OF COMPANY

Further company coverage: ONEW.NS

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** Shares of 360 One Wam ONEW.NS rise as much as 4.23% to a near one-month high of 532.80 rupees per share

** Norway-based Norges Bank on account of the Government Pension Fund Global buys 3.28 mln shares of the asset manager at an average price of 511.2 rupees apiece, bulk deal data on National Stock Exchange shows

** Morgan Stanley Investment Funds Emerging Leaders Equity Fund sells 2.44 mln shares at 511.2 rupees apiece

** All six analysts tracking ONEW recommend "strong buy"; median PT is 611 rupees - LSEG data

** ONEW's stock up 21.33% including today's gains in 2023 so far

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of 360 ONE WAM Ltd ONEW.NS, formerly known as IIFL Wealth Management, fall as much as 4.5% to 482.50 rupees, biggest intraday pct fall since June 23

** Wealth and asset manager says its unit 360 ONE Asset Management (Mauritius) is investment manager for Emerging India Focus Fund and EM Resurgent Fund

** Both funds cited by Organised Crime and Corruption Reporting Project (OCCRP) as "opaque" Mauritius funds used to invest in Adani Group stocks

** ONEW says the all of the funds' investments in shares of Adani Group companies sold in 2018

** These funds, as on date, have zero investments in any of the Adani Group shares - ONEW

** Shares, which fell to their lowest since July 10, trim YTD gains to 9.8%

(Reporting by Nallur Sethuraman in Bengaluru)

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

• SECOND INTERIM DIVIDEND FOR FINANCIAL YEAR 2023-24 OF 4 RUPEES PER SHARE

• JUNE-QUARTER CONSOL PROFIT 1.84 BILLION RUPEES VERSUS PROFIT 1.57 BILLION RUPEES

• JUNE-QUARTER CONSOL TOTAL INCOME 5.67 BILLION RUPEES VERSUS 4.79 BILLION RUPEES

• APPROVED INCORPORATING UNIT FOR CARRYING OUT ALTERNATES ASSET MANAGEMENT BUSINESS

Source text for Eikon: ID:nBSE1msjgm

Further company coverage: ONEW.NS

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** Citi Research initiates coverage on 360 ONE WAM Ltd ONEW.NS with "buy" rating and PT of 600 rupees

** Stock currently up as much as 2.52% at 457.1 rupees, their biggest pct gain since June 23

** Co's robust operating trends, diversified products, and client acquisition engine underpin our buy - Citi Research

** Adds, strong recurring flows for co to be driven by client additions, wallet expansion with rising client vintage, and churn from non-recurring to recurring assets

** Sees co's niche and dominant positioning in wealth management landscape in India as growth factor

** Trading volume is ~118,816 shares as of 12:32 p.m. IST, 0.2x the 30-day avg - Refinitiv data

** All 5 brokerages on the co rate stock a "buy" or above, indicating bullish sentiment, their median PT is 530 rupees

** Stock up 0.39% YTD as of last close

(Reporting by Manvi Pant in Bengaluru)

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** Shares of 360 One Wam Ltd ONEW.NS fall as much as nearly 3% to 408 rupees, lowest in over a week

** Decline after the wealth management services provider reports a 6% Y/Y slide in consolidated net profit for March quarter

** Consolidated total income also falls 8.5% Y/Y

** Co declares an interim dividend of 4 rupees per share; record date for dividend fixed at May 12, 2023

** "Global economic outlook continues to remain difficult for the sector due to central bank policy actions to tackle inflation and geopolitical concerns, says MD and CEO of ONEW, Karan Bhagat

** Adds Indian markets ended FY23 with negative bias and high volatility as a consequence

** Expects revival due to strong macroeconomic tailwinds, and scope to improve reach beyond the traditional base of Tier 1 cities

** Muted revenues and other income led to the earnings miss, says domestic brokerage firm Motilal Oswal Financial Services

** All five analysts tracking ONEW maintain "buy"; median TP is 572.75 rupees - Refinitiv data

(Reporting by Bharath Rajeswaran in Bengaluru)

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

• INDIA'S 360 ONE WAM MARCH-QUARTER CONSOL NET PROFIT 1.55 BILLION RUPEES VERSUS PROFIT 1.65 BILLION RUPEES

• 360 ONE WAM MARCH-QUARTER CONSOL TOTAL INCOME 5.30 BILLION RUPEES VERSUS 5.79 BILLION RUPEES

Source text for Eikon: ID:nBSE2xb1Xz

Further company coverage: ONEW.NS

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April 24 (Reuters) - 360 One Wam Ltd ONEW.NS:

• 360 ONE WAM -A BRANCH OF UNIT RECEIVED APPROVAL FROM INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY TO ACT AS FUND MANAGEMENT ENTITY (NON-RETAIL)

Source text for Eikon: ID:nBSEtdtWT

Further company coverage: ONEW.NS

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