360 One WAM has finalized a deal to acquire Batlivala & Karani Securities India Private Ltd and Batlivala & Karani Finserv Private Ltd for ₹1,884 crore (inclusive of ₹200 crore of cash and cash equivalent).
According to a press release by 360 One, B&K is a prominent mid-cap brokerage that caters to major foreign and domestic financial institutions. The company provides full-service brokerage services to institutional investors and also offers corporate treasury services.
The acquisition will involve a combination of a stock swap and a part-cash transaction, subject to regulatory approvals.
360 One stated, “Upon completion, this strategic acquisition will enhance 360 ONE’s brokerage platforms across all market segments (UHNI, HNI, retail, institutions) and further expand its equity capital markets business to better serve its existing client base. Additionally, B&K’s strong presence in the corporate treasury segment will create synergies for 360 ONE’s client base.”
As part of the agreement, Saahil Murarka, Managing Director of B&K Securities, will join the 360 One Group to lead the broking and capital markets business.
Karan Bhagat, Founder, Managing Director & CEO of 360 One WAM, commented, “This partnership represents a significant milestone for both of our firms. This acquisition solidifies our position as a market leader, allowing for the integration of research, advisory, and execution capabilities across a broader range of services. We are eager to collaborate with Saahil and his team to expand this business line and deliver enhanced value to our institutional, corporate, and ultra-high-net-worth clients.”
Saahil Murarka, Managing Director of B&K Securities, remarked, “We take great pride in B&K’s rich history and legacy as one of India’s oldest financial services institutions. This collaboration with 360 ONE WAM is a natural progression for us, combining the best of both organizations. B&K’s expertise in equities, institutional and corporate financial services combined with 360 ONE’s comprehensive wealth management and asset management capabilities. We look forward to a close partnership and continuing to provide exceptional service to our clients.”
In other news, 360 One WAM reported a net profit of ₹275 crore, marking a 41.7% increase year-on-year. The company’s total income also saw a significant rise of 45% to ₹678 crore from ₹467 crore in the previous year.
Published on January 27, 2025.
