360 ONE WAM LIMITED has informed the Exchange that 360 ONE Global Asset Management (IFSC) Limited, a wholly owned subsidiary of 360 ONE Asset Management Limited and a step-down wholly owned subsidiary of the Company, has received in-principle approval from IFSCA to act as Fund Management Entity (Retail).
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360 ONE WAM's step-down wholly owned subsidiary, 360 ONE Global Asset Management (IFSC) Limited, has received in-principle approval from IFSCA to act as a Fund Management Entity in the Retail segment. The subsidiary sits under 360 ONE Asset Management Limited, which will now infuse capital and seek the final registration certificate. Once approved, the entity will commence asset and fund management business at GIFT City. This expands 360 ONE's footprint into the international financial services centre with a retail-focused offering.
This is a positive strategic development — it opens a new revenue stream through retail fund management at GIFT City, leveraging India's only IFSC for global investors. The capital infusion is modest and likely already factored in, but successful execution could enhance long-term AUM growth and earnings diversification.