360 One Wam Board Launches QIP At Floor Price Of Rs 1,065.36 Per Share

360 ONE Wealth, a private wealth management firm with an AUM of roughly Rs. 521,000 crore*, is among the fastest-growing in India. We serve the incredibly complex and specialized needs of high- and ultra-high-net-worth individuals, wealthy families, family offices, and institutional clients by offering a broad range of tailored wealth management solutions. We cultivate enduring connections based on openness, trust, and thought leadership. 360 ONE Wealth assists over 7,400 families in India and overseas with the preservation, protection, and expansion of their legacy. For the discriminating client, a wide range of customized wealth management solutions are produced through a thorough understanding of the client.

The 360 One Wam Board Introduces QIP

360 One Wam Ltd.’s board of directors approved the opening of its qualified institutional placement on Thursday at a floor price of Rs 1,065.36 per equity share. The company may offer a discount of not more than 5% on the floor price for the issue, according to an exchange filing. Also, the issue price will be decided after consulting the book-running lead managers appointed in relation to the issue, the filing stated. The proposal to raise funds via the QIP route received nods from 360 One Wam’s board of directors on Sept. 19. The company aims to raise up to Rs 2,250 crore in one or more tranches.

Three days after 360 One Wam released its results for the quarter that concluded on September 30, the QIP was introduced. Compared to Rs 186 crore for the same period last year, the company’s reported net profit of Rs 245.5 crore represents a 32% increase.

One Wam 360’s AUM is Rs 5,69,372 crore

Revenue for the September quarter was Rs 862.8 crore, up 57% from Rs 550 crore during the same period in the fiscal year 2024. According to the financial services provider, as of September 2024, it managed assets totalling Rs 5,69,372 crore. Its annual recurring revenue (AUM) is Rs 2,42,619 crore, representing a growth of 9.6% from quarter to quarter and 40.6% from year to year.

The stock of 360 One Wam Ltd. is down more than 2% during the day

The stock of 360 One Wam Ltd. is currently trading at Rs. 1,010.25 per share, down more than 2% today, and is trading at Rs. 982.00.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.