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360 One Wam Limited ( (IN:360ONE) ) has provided an announcement.
360 ONE WAM Limited has announced that the boards of its wholly owned subsidiaries, 360 ONE Portfolio Managers Limited and 360 ONE Asset Management Limited, have approved the transfer of the alternative investment fund management and portfolio management businesses from the former to the latter. The transfer will be executed as a going-concern slump sale for at least the net book value, subject to shareholder and regulatory approvals.
The company expects the move to consolidate its public equities asset management operations within 360 ONE Asset Management Limited, creating a unified investment platform and sharper strategic focus on this segment. Management highlighted that, because the transaction is entirely intra-group, it will not alter shareholding structures, confer special benefits on promoters, or adversely impact investors, creditors, or the public.
More about 360 One Wam Limited
360 ONE WAM Limited operates in the wealth and asset management industry, offering portfolio management and asset management services, including management of alternative investment funds and public equities. Through its various subsidiaries, the company focuses on providing investment management solutions to high-net-worth and institutional clients in India’s capital markets.
Average Trading Volume: 125,667
Technical Sentiment Signal: Buy
Current Market Cap: 429.2B INR
For detailed information about 360ONE stock, go to TipRanks’ Stock Analysis page.