360 ONE WAM LTD: UBS Acquires 4.8 % Stake and Q2 FY27 Earnings Update
UBS Converts Warrants into Shares
On 22 October 2026, UBS Group AG completed the conversion of all 20.5 million warrants that had been allotted to it in July 2025. The conversion was executed at a 75 % exercise price, resulting in an acquisition of an approximately 4.8 % equity stake in 360 ONE WAM LTD, a Mumbai‑based wealth and asset‑management company. The transaction follows a prior partnership announced in April 2025, in which UBS agreed to sell its Indian onshore wealth‑management business to 360 ONE WAM for about US $32 million and acquire warrants representing a 4.95 % stake in the firm.
UBS’s new ownership will enable it to serve 360 ONE WAM’s clients in Singapore pending regulatory approval. The firm has also completed business‑transfer agreements with UBS and Credit Suisse in September 2025, underscoring the depth of the strategic partnership.
Q2 FY27 Earnings Review
In the second quarter of fiscal year 2027, 360 ONE WAM reported a decline in profit. Management attributed the downturn to a reduction in carry income, which has historically been a significant component of earnings quality. Conversely, the company noted that record inflows and recurring fee revenue continued to support growth in its wealth‑management and asset‑management segments.
Key points from the earnings announcement include:
- Profit Decline: Net profit fell compared with the same period in the previous year, reflecting lower carry income.
- Inflows and Fees: The firm recorded unprecedented client inflows and sustained recurring fee income, bolstering its overall revenue base.
- Segment Performance: The Wealth Management segment maintained activity in distribution, advisory, broking, research, discretionary and non‑discretionary portfolio management, corporate treasury solutions, estate planning, and lending. The Asset Management segment continued managing pooled funds across mutual funds, alternative asset funds, portfolio management, and offshore private equity, fixed‑income, and real‑assets products for ultra‑high net worth individuals, family offices, and institutional clients.
- Strategic Positioning: The partnership with UBS is expected to enhance the company’s market reach and product offerings, potentially offsetting the earnings impact of reduced carry income.
Market and Financial Snapshot
| Item | Value |
|---|---|
| Close Price (2026‑10‑20) | INR 1,038 |
| 52‑Week High (2026‑01‑15) | INR 1,236.20 |
| 52‑Week Low (2026‑04‑06) | INR 906.05 |
| Market Capitalisation | INR 430,349,484,032 |
| Price‑to‑Earnings Ratio | 34.143 |
| Primary Exchange | National Stock Exchange of India |
| Currency | INR |
360 ONE WAM, formerly known as IIFL Wealth Management Limited until its rebranding in January 2023, has positioned itself as a dual‑segment provider of wealth and asset‑management services in India since its incorporation in 2008. The recent stake acquisition by UBS and the latest earnings report provide a snapshot of the company’s evolving strategic focus and financial performance amid a competitive wealth‑management landscape.
