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B&K may hit 360 ONE premium
Mint Kolkata
|February 27, 2025
Broking booster
60 One WAM Ltd and Anand Rathi Wealth Ltd were the listed pure plays in wealth management in India. However, that will no longer be the case with 360 One's acquisition of B&K Securities and B&K Finserv.
360 One recently held an analyst call to discuss its acquisition of the B&K (Batlivala and Karani) group.
B&K Finserv is into mutual fund distribution and fits well into 360 One's existing business. As such, its acquisition price of ₹110 crore is small. The big one to focus on is B&K Securities' stock broking business, which will be acquired via a combination of cash and equity, split into ₹600 crore cash and 360 One's shares worth ₹1,174 crore.
This story is from the February 27, 2025 edition of Mint Kolkata.
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