360 ONE WAM LIMITED has informed the Exchange about receipt of prior approval under Competition Act, 2002, on May 20, 2025, for transactions (i.e. combination) contemplated under SPSSA, SPA and SSA. In view of receipt of all the necessary approval(s) and/or no objections of regulatory authority(ies), the Company will now initiate steps for consummation of the SPSSA, SPA and SSA, in accordance with the applicable laws.
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Awaiting price reaction for this filing.
360 ONE WAM has received the final prior approval under the Competition Act, 2002 on May 20, 2025, for its proposed acquisition of the entire equity share capital of Batlivala & Karani Securities India Private Limited and Batlivala & Karani Finserv Private Limited, along with a preferential issue of warrants to Mr. Saahil Murarka. All necessary regulatory approvals are now in place, and the company will initiate steps to consummate the agreements in accordance with applicable laws. This follows earlier intimation dates of April 22, May 13 and May 19, 2025, indicating the deal had already cleared other regulatory hurdles. The transaction was originally announced on January 27, 2025, and is now effectively cleared for closing.
Positive for shareholders as the deal clears its final regulatory hurdle, removing uncertainty around closing and paving the way for 360 ONE to expand its wealth management and financial services footprint. The stock may see a mild positive reaction on deal-closure certainty, with further moves depending on the acquisition cost and integration outcomes.