Swiss investment bank UBS Group AG has successfully completed the conversion of warrants into shares of 360 ONE WAM, a Mumbai-based wealth management firm. According to the latest announcement from 360 ONE WAM Ltd, UBS exercised over 20.5 million warrants that were allotted to it on a preferential basis, paying the remaining 75% of the exercise price to acquire an equivalent number of shares in the Indian wealth manager. The conversion was completed at an issue price of ₹1,030 per share, resulting in a total consideration of approximately ₹2,112 crore. The latest tranche of equity shares was issued at ₹1,030 per share, bringing the total consideration for the warrant transaction to ₹2,112 crore. The conversion process was completed on Thursday, marking another significant step in the strategic partnership between the two companies, coming more than a year after UBS shifted its local wealth management operations to the company.
This warrant conversion marks another significant step in the strategic partnership between the two companies, coming as foreign banks face stiff competition from wealth managers amid regulatory constraints in India. As reported by The Economic Times, the transaction demonstrates UBS's continued commitment to expanding its presence in the Indian wealth management market through its association with 360 ONE WAM. The completion of this warrant conversion process strengthens the existing relationship between the Swiss banking giant and the Mumbai-based wealth management firm, deepening their strategic wealth management partnership and reinforcing their collaborative approach to wealth management services in India. The issuance of these equity shares has increased the company's issued, subscribed, and paid-up share capital from ₹40.79 crore to ₹42.84 crore, with the newly allotted shares ranking pari passu with existing equity shares.
Following the completion of the warrant conversion, UBS now holds an approximately 4.8% stake in 360 ONE WAM. According to 360 ONE WAM Ltd reports, this ownership position represents UBS's increased involvement in the Indian wealth management sector through its investment in the Mumbai-based firm. The stake was valued at more than $200 million at Wednesday's closing share price, as reported by Bloomberg. The stake acquisition reflects the strategic importance of the Indian market for UBS's global wealth management operations, marking another milestone in the companies' collaborative approach to wealth management services in India and reinforcing their commitment to expanding their presence in the Indian wealth management market.
The market responded positively to the completion of the warrant conversion, with 360 ONE WAM shares gaining around 1.5% to trade at ₹1,053 apiece on the National Stock Exchange on Thursday. As per The Economic Times, stocks of 360 One WAM have declined around 3% over the past week and 12% so far in 2026, while falling more than 11% over the past year. However, over the longer term, the stock has delivered returns of more than 93% in three years and 165% in five years. The company currently has a market capitalisation of over ₹42,586 crore. Additionally, the Board of Directors of 360 ONE WAM LIMITED has declared a second interim dividend for FY 2026-27 of ₹7.5 per equity share, with Friday, October 23, 2026 fixed as the record date for dividend payment through electronic mode.
The partnership has expanded beyond equity ownership, with UBS now taking over serving 360 ONE's clients in Singapore, subject to regulatory approvals. As reported by Reuters, 360 One completed business transfer agreements with UBS and Credit Suisse in September 2025. The deal comes as foreign banks face stiff competition from wealth managers amid regulatory constraints in India. In April 2025, UBS agreed to transfer its onshore wealth management business in India to 360 One for a net consideration of ₹307 crore, while 360 One clients booked in Singapore would be served by UBS. The agreement also established a revenue-sharing model tied to client onboarding. The warrant exercise "marks the latest milestone in the institutions' strategic collaboration," as 360 One stated, with the collaboration expected to bring valuable expertise and resources to further strengthen the company's capabilities in delivering top-tier financial solutions to its clients.
