UBS acquires 4.8% stake in 360 ONE WAM via ₹2,112 crore warrant exercise; stock rises 2%

Shares of 360 ONE WAM, formerly known as IIFL Wealth Management, rose nearly 2% in intraday trade on Thursday after Switzerland-based UBS AG acquired a 4.8% stake in the wealth and asset management firm by exercising all the warrants allotted to it on a preferential basis.

Following the conversion, 360 ONE WAM allotted 2.05 crore equity shares to UBS at ₹1,030 per share on October 22, 2026, the company said in an exchange filing. The allotment involved an aggregate consideration of ₹2,111.8 crore.

Reacting to the development, 360 ONE WAM shares climbed as much as 1.76% to ₹1,051.20 on the BSE, taking its market capitalisation to around ₹42,620 crore. The stock had earlier declined as much as 1.5% to hit an intraday low of ₹1,024.50 before staging a recovery, rebounding around 2.6% from the day’s low.

UBS completes ₹2,112 crore warrant conversion

UBS had subscribed to 2.05 crore warrants allotted on July 21, 2025, and paid 25% of the exercise price at the time of allotment. It has now paid the remaining 75%, amounting to ₹1,583.85 crore, to convert the warrants into equity shares.

“UBS AG has exercised its right to convert all the warrants held by it and is allotted 2,05,02,939 equity shares as aforesaid,” the company said in the filing.

The newly allotted shares will rank pari passu with the company’s existing equity shares. Following the allotment, 360 ONE WAM’s paid-up equity share capital increased from ₹407.91 crore to ₹428.42 crore, the release noted.

The warrant exercise marks another milestone in the strategic collaboration between UBS and 360 ONE WAM.

360 ONE WAM manages assets worth more than ₹9 lakh crore and serves over 9,000 families and corporates. Its businesses span wealth management for high-net-worth and ultra-high-net-worth clients, as well as asset management across public equities, private equity, private credit, real assets and renewables.