360 ONE WAM LIMITED has informed regarding Disclosure of material events with respect to subsidiaries of the Company under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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360 ONE Portfolio Managers Limited (Transferor) will transfer its Alternative Investment Funds (AIF) business and Portfolio Management Services (PMS) business to 360 ONE Asset Management Limited (Transferee). Both entities are wholly owned subsidiaries of 360 ONE WAM LIMITED. The transfer is on a going concern and slump sale basis for a lump sum consideration not less than the net book value. The purpose is to consolidate asset management businesses for public equities under a single entity for sharper focus. The transaction is between wholly owned subsidiaries only, not to any third party, and does not change shareholding or benefit promoters.
This is an internal restructuring with no direct shareholder impact. The consolidation may improve operational efficiency in the asset management segment. No open offer or NCLT process is triggered as it involves only wholly owned subsidiaries.