360 ONE WAM LIMITED has informed the Exchange about Execution of Transfer and Assignment Agreement between 360 ONE Prime Limited, a wholly owned subsidiary of the Company, UBS Finance India Private Limited and UBS AG, for acquisition of entire loan portfolio of wealth management clients of UBS Finance by Prime
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360 ONE WAM Limited has informed the exchange that its wholly owned subsidiary, 360 ONE Prime Limited, has signed a Transfer and Assignment Agreement with UBS Finance India Private Limited and UBS AG. Under this deal, 360 ONE Prime will acquire the entire loan portfolio of wealth management clients currently held by UBS Finance India. The agreement involves three parties — the subsidiary as the buyer, UBS Finance India as the seller, and UBS AG (the parent of UBS Finance India) as a counterparty. No financial terms, deal value, or loan book size have been disclosed in this filing. The transaction is part of 360 ONE's strategy to scale up its lending business to high-net-worth clients.
This acquisition should strengthen 360 ONE Prime's loan book in the wealth management segment, potentially boosting its lending income. The lack of disclosed deal value makes it hard to gauge immediate impact on shares, but the move signals continued inorganic growth in the HNI lending space.