Largest Private Wealth Management Firms Gets SEBI Nod Under Merchant Banker Rules For B&K Securities Acquisition

Over the past year, the company has delivered a return of 20.76 per cent, while its 3-year return stands at 115.4 per cent.

360 ONE WAM Limited has received significant regulatory approval for its proposed acquisition of Batlivala & Karani Securities India Private Limited. This approval, granted under SEBI (Merchant Bankers) Regulations 1992, marks a crucial step towards the change of control of B&K Securities to 360 ONE WAM Limited. The company is now poised to proceed with the necessary steps to finalize the acquisition, pending further regulatory approvals. This strategic move is expected to enhance 360 ONE WAM Limited's capabilities in the financial services sector, aligning with its growth objectives. The acquisition is part of the company's broader strategy to expand its footprint and strengthen its market position.

IIFL Wealth Management Limited, established in 2008, stands as one of India's largest private wealth management firms. The company offers a comprehensive range of services, including wealth management, financial product distribution, advisory, and portfolio management, catering to a diverse clientele, including high-net-worth individuals. With an impressive AUM of Rs 4,66,909 crore, the company has a robust revenue model, with 72 per cent derived from ARR and 28 per cent from transaction and brokerage income. The wealth management segment dominates with 85 per cent of the AUM, while asset management contributes 15 per cent.

The company has a strong domestic presence, with 98 per cent of its operations in India, and a small international footprint in Singapore and Mauritius. IIFL Wealth Management is committed to maintaining high asset quality, as evidenced by a 0 per cent GNPA as of Q3FY24. The firm has a diverse clientele, with over 11,000 clients, and a significant portion of its AUM is concentrated among clients with over Rs. 10 crore.

Currently, the stock price of 360 ONE WAM Limited stands at Rs 953.7. The company has a 52-week high of Rs 1,296.9 and a 52-week low of Rs 731.6. Its market capitalisation is Rs 37,487 crore. Over the past year, the company has delivered a return of 20.76 per cent, while its 3-year return stands at 115.4 per cent. The stock is currently trading at a Price-to-Earnings (PE) Ratio of 37.26.

Investors should keep an eye on this Mid-Cap Stock.

Disclaimer: The article is for informational purposes only and not investment advice.