360 ONE, UBS Ink Wealth Pact

23 Apr 2025 CW Team

Shares of 360 ONE WAM Ltd. rose on April 22 after the wealth and asset management firm announced an exclusive strategic collaboration with international banking giant UBS.

In a filing with the stock exchanges, 360 ONE stated, “This exclusive strategic collaboration combines 360 ONE’s local knowledge and reach with UBS’s global and regional expertise to deliver enhanced benefits to clients.”

Under the partnership, clients from both institutions will gain access to a suite of onshore and offshore wealth management solutions. The firms will also explore joint opportunities in asset management products and investment banking services.

As part of the arrangement, 360 ONE will issue 20.5 million warrants to UBS AG on a preferential basis at Rs 1,030 per warrant—a 14% premium over the three-day VWAP prior to April 17, 2025. These warrants can be converted into equity shares within 18 months, effectively giving UBS a 4.95% stake in the Indian firm.

Further strengthening the partnership, 360 ONE’s subsidiaries will acquire UBS AG affiliates’ India Wealth Business. This includes stock broking, distribution, portfolio management services, and the residual loan portfolio of wealth clients.

The assets under management (AUM) of the acquired UBS India wealth unit stood at around Rs 260 billion (approx. $3.1 billion) as of December 31, 2024. The acquisition deal is valued at Rs 3.07 billion (approx. $36.8 million).

“This is a first step towards a powerful collaboration,” said the firm, adding that a joint committee led by senior leadership from both institutions will oversee growth initiatives.

The collaboration signals UBS’s commitment to the fast-expanding ultra and high-net-worth market in India and gives 360 ONE access to global expertise and clientele. The transaction is subject to regulatory approvals.

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