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The acquisition will be partly funded by a cash consideration of ₹600.11 crore, subject to adjustments agreed upon by both parties. In addition, 360 ONE WAM will issue 1 crore fully paid-up equity shares at a price of ₹1,174.13 per share, for consideration other than cash. If paid completely, the total value for the transaction would amount to approximately ₹1,774.24 crore.
Founded in 1998, B&K Securities is a well-established player in the Indian financial services sector. The company is involved in institutional equity broking, mutual fund and alternative investment fund distribution, portfolio management services, investment banking, and research analyst activities. As of March 31, 2024, B&K Securities reported a turnover of ₹144.22 crore, up from ₹111.78 crore in the previous year.
Acquisition synergies
“The strategic acquisition will help 360 ONE bolster its Broking Platforms across all market segments (UHNI, HNI, Retail, Institutions) along with growing its Equity Capital Markets business to serve existing & new clients. Additionally, B&K’s strong presence in the corporate treasury segment is another area of synergy,” 360 ONE WAM said in a regulatory filing.
360 ONE WAM’s Founder and CEO, Karan Bhagat, said, “With the strategic acquisition of B&K, we are seamlessly integrating advisory, research, and execution capabilities. This, not only enhances our offerings, but also creates a powerful flywheel effect – compounding value creation and driving exceptional client outcomes across an expanding spectrum of services.”
Also Read: 360 ONE WAM Q3 Results: Net profit jumps 43.9% to ₹276.5 crore, co acquires B&K Securities
Timeline
The acquisition is subject to regulatory approvals, including clearance from the Securities and Exchange Board of India (SEBI), stock exchanges, the Competition Commission of India (CCI), and other applicable regulators. The completion of the acquisition is expected within the next 6 to 12 months, 360 ONE WAM said, adding that it is pending the fulfilment of customary conditions and regulatory approvals.
360 ONE Wealth Asset Management (WAM) reported the results for the third quarter of the fiscal year 2025 on Monday. The company’s net profit came in at ₹276.5 crore for the three months ended December 2024, rising 43.9% year-on-year. Last year, the asset manager reported a profit of ₹192.1 crore.
The company’s revenue also saw solid growth, increasing by 20.6% to ₹759.8 crore, up from ₹629.8 crore in Q3 of the previous year. During the third quarter, its ARR revenue stood at ₹426 crore – representing an increase of 26.2% YoY, while combined ARR retention stood at 70 basis points (bps) compared with 68 bps in Q2 FY25.
Assets under Management (AUM) for 360 ONE WAM stood at ₹5.8 lakh crore, consisting of annual recurring revenue (ARR) AUM of ₹2.5 lakh crore and transactional / brokerage AUM of ₹3.3 crore.
Shares of 360 ONE WAM ended 5.1% lower at ₹1,069.95 on Monday.
