Please find enclosed intimation w.r.t. corrigendum to notice of the 1st Extraordinary General Meeting of the Company for the financial year 2025-26.
Awaiting price reaction for this filing.
360 ONE WAM has issued a corrigendum to its EGM notice originally sent on April 28, 2025. The EGM is scheduled for May 20, 2025, at 2:00 p.m. via video conferencing to seek shareholder approval for issuing 2,05,02,939 warrants to UBS AG on a preferential basis at an exercise price of Rs. 1,030 per warrant, aggregating to Rs. 2,111.80 crores. The corrigendum revises the 90-day VWAP-based floor price slightly downward from Rs. 1,022.72 to Rs. 1,022.59 per share (per a revised KPMG valuation report dated May 15, 2025), while the actual issue price and total deal size remain unchanged. UBS AG is a non-promoter and currently holds no shares in the company. Proceeds are earmarked for investments in broking subsidiary (Rs. 400 cr), 360 ONE Prime Ltd (Rs. 1,000 cr), 360 ONE Alternates Asset Management Ltd (Rs. 200 cr), and general corporate purposes (Rs. 511.80 cr), to be utilized by FY 2027-28.
This is essentially a technical correction to the EGM notice – the actual warrant issue price and total size of the Rs. 2,111.80 crore preferential issue to UBS AG remain unchanged, so the dilution impact stays at ~4.95%. Existing shareholders should review the revised floor price computation and the detailed use-of-proceeds plan before voting at the May 20 EGM.