We refer to our intimation dated January 27, 2025, inter-alia with regard to the proposed acquisition by the Company, of the entire fully paid-up equity share capital of Batlivala & Karani Securities India Private Limited ( B&K Securities ) on a fully diluted basis from its existing shareholders, subject to necessary approval(s) of the regulatory authorities.In this regard, we would like to update you that B&K Securities has received the necessary prior approval under SEBI (Merchant Bankers) Regulations 1992, on April 21, 2025, for the aforesaid acquisition and proposed change of control of B&K Securities to the Company.
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360 ONE WAM has received the required SEBI approval under the Merchant Bankers Regulations, 1992 on April 21, 2025, for its proposed acquisition of the entire fully paid-up equity share capital of B&K Securities on a fully diluted basis. This approval also covers the change of control of B&K Securities to 360 ONE WAM. The acquisition was first announced on January 27, 2025, and was awaiting regulatory clearances. B&K Securities is a Mumbai-based brokerage and merchant banking firm.
This is a positive development as it clears a key regulatory hurdle for the acquisition, bringing the deal closer to completion and expanding 360 ONE WAM's footprint in the brokerage and investment banking space.