BC Asia Investments X Ltd is likely to sell around 1.5 crore shares, or a 3.7% stake, in wealth and asset management firm 360 One WAM Ltd through a block deal, according to sources.The offer size is pegged at ₹1,740 crore, with a floor price of ₹1,160 per share, representing a nearly 5% discount to the stock’s closing price of ₹1,221.20 on Monday.
The seller will be subject to a 120-day lock-up period following the transaction, the document said. The deal is being arranged by J.P. Morgan, according to the term sheet.
Also Read: SEBI allows Jane Street back into Indian derivatives market with conditions360 One WAM Ltd, headquartered in Mumbai, is one of India’s leading wealth and asset management firms, formerly known as IIFL Wealth Management Limited until its rebranding in January 2023.
The seller will be subject to a 120-day lock-up period following the transaction, the document said. The deal is being arranged by J.P. Morgan, according to the term sheet.
Also Read: SEBI allows Jane Street back into Indian derivatives market with conditions360 One WAM Ltd, headquartered in Mumbai, is one of India’s leading wealth and asset management firms, formerly known as IIFL Wealth Management Limited until its rebranding in January 2023.
BC Asia Investments X Ltd is a special-purpose vehicle indirectly held by a consortium of investors, including Bain Capital Investors LLC, Bain Capital Creditand the Canada Pension Plan Investment Board (CPPIB).
In 2022, BC Asia Investments X acquired up to a 24.98% stake in 360 One WAM from General Atlantic Singapore Fund Pte. Ltd, making it a major shareholder in the company.
