360 One Wealth acquires Batlivala & Karani Securities for Rs 1884 crores
Asset Management (WAM) on Monday announced the acquisition of Batlivala & Karani Securities and Batlivala & Karani Finserv for Rs 1,884 crore, including Rs 200 crore in cash and cash equivalents.
B&K is a mid-cap brokerage that primarily caters to institutional investors and also provides corporate treasury services to its clients. The company is supported by a team of over 300 professionals.
The acquisition has been structured as a combination of a stock swap and part-cash transaction. 360 One will pay Rs 611 crore in cash and issue 1 crore shares of the company at Rs 1,174.13 per share.
For the year ended March 31, 2024, B&K Securities has reported a turnover of Rs 144 crores.
This strategic acquisition, once completed, is expected to bolster 360 One’s broking platforms across all market segments, including ultra-high-net-worth individuals (UHNIs), high-net-worth individuals (HNIs), retail, and institutional clients. It will also enhance the company’s equity capital markets business to better serve its existing clientele, the company said in a statement. B&K’s strong presence in the corporate treasury segment will provide additional synergies for 360 One’s client base, it added.
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