The latest mergers, acquisitions and other corporate actions in the wealth management sector.

360 ONE WAM, Batlivala & Karani Securities
360 ONE WAM, an Indian wealth and asset manager, will acquire one of India’s oldest brokers Batlivala & Karani Securities India [B&K] and Batlivala & Karani Finserv for about 18.8 billion rupees ($217 million).

B&K Securities is a mid-cap brokerage, servicing foreign and domestic financial institutions. The company, which is a full-service broker dealing with institutional investors, also offers corporate treasury services to its set of clients, serviced by a team of over 300 professionals. It is a pioneer in providing independent and unbiased research with a coverage of over 450 companies making it a leader in the mid and small cap space. The acquisition, structured as a combination of a stock swap and part-cash transaction, is subject to regulatory approvals, the firm said in a statement this week.

Once completed, this acquisition will help 360 ONE bolster its broking platforms across all market segments – ultra-high net worth individuals and high-net worth individuals, retail, and institutions – along with growing its equity capital markets business to serve its existing client base. Additionally, B&K’s presence in the corporate treasury segment is another area of synergy for 360 ONE’s client base, the firm said. 

As part of the transaction, Saahil Murarka, managing director, at B&K Securities will join the 360 ONE Group to head the broking and capital markets business.

“This partnership marks a pivotal moment for both our firms. This acquisition strengthens our position as a market leader, enabling integration of research, advisory, and execution capabilities across a wider spectrum of services,” Karan Bhagat, founder, managing director and CEO, 360 ONE WAM, said. “We are excited to work with Saahil and his team to grow this business line and deliver better value to our institutional, corporate, and ultra-high-net-worth clients.” 

“We are incredibly proud of B&K’s history and heritage as one of India’s oldest financial services institutions. This partnership with 360 ONE WAM is a natural progression for us, combining the best our organisations have to offer,” Saahil Murarka, managing director, B&K Securities added.

Headquartered in Mumbai, 360 ONE is the investment and financial advisor to 7500+ relevant families in the high net worth individuals (HNW) and ultra-HNW segments, with aggregate assets of more $68 billion under management.