360 ONE WAM LIMITED has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on May 20, 2025
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360 ONE WAM has issued a corrigendum to its EGM notice, originally sent on April 28, 2025, ahead of the EGM scheduled for May 20, 2025. The corrigendum revises the 90-day VWAP-based floor price marginally downward from Rs. 1,022.72 to Rs. 1,022.59 per share, based on a revised KPMG valuation report dated May 15, 2025. The actual issue price remains unchanged at Rs. 1,030 per warrant, with the total deal size intact at around Rs. 2,112 crore for 2.05 crore warrants to be issued to UBS AG on a preferential basis. The proceeds will be deployed across its broking subsidiary (Rs. 400 crore), 360 ONE Prime (Rs. 1,000 crore), 360 ONE Alternates Asset Management (Rs. 200 crore), and general corporate purposes (Rs. 512 crore), with CARE Ratings appointed to monitor fund usage. UBS AG is a non-promoter allottee and the warrants will be locked in as per SEBI ICDR rules.
The correction is a minor technical revision with no change in deal size or pricing for shareholders. Approval at the May 20 EGM is the key milestone, post which UBS AG's investment will strengthen the company's capital base for growth in broking, lending, and asset management businesses.