UBS Acquires 4.8% Stake in 360 ONE WAM After Warrant Conversion

Key Takeaways

• UBS AG has converted all 2.05 crore warrants held in 360 ONE WAM into equity shares, giving it an approximately 4.8% stake in the company.
• 360 ONE received ₹1,583.85 crore as the remaining 75% of the warrant exercise price, while the shares were allotted at ₹1,030 apiece.
• The warrant investment forms part of the broader strategic collaboration between UBS and 360 ONE announced in April 2025.

UBS Acquires 4.8% Stake in 360 ONE WAM

UBS AG has acquired an approximately 4.8% equity stake in 360 ONE WAM Limited after converting all the warrants allotted to it last year.

The wealth and asset management company said on October 22 that it allotted 2,05,02,939 equity shares to UBS following the warrant conversion. The shares have a face value of ₹1 each and were issued at ₹1,030 per share.

As part of the conversion, 360 ONE received ₹1,583.85 crore from UBS. This represents the remaining 75% of the warrant exercise price.

UBS had already paid the initial 25% when the 2.05 crore warrants were allotted on a preferential basis on July 21, 2025. Exchange disclosures show that the initial payment was approximately ₹527.95 crore. The aggregate consideration for the equity shares issued through the warrants works out to about ₹2,111.80 crore.

360 ONE Share Capital Rises After UBS Allotment

Following the conversion, 360 ONE's issued, subscribed and paid-up equity share capital increased from ₹40.79 crore, comprising 40.79 crore shares of ₹1 each, to ₹42.84 crore, comprising around 42.84 crore shares.

UBS now holds all 2.05 crore equity shares issued against the warrants. The newly allotted shares will rank equally with the company's existing equity shares in all respects.

The latest percentage holding is slightly different from the 4.95% figure initially contemplated when the transaction was announced in April 2025. The October 2026 filing records UBS's post-allotment holding at approximately 4.8% of the current paid-up equity capital.

Investment Linked to 360 ONE-UBS Strategic Collaboration

The warrant investment was originally announced as one part of a wider strategic relationship between the two financial institutions.

In April 2025, 360 ONE and UBS announced an exclusive wealth management collaboration covering opportunities across India and international markets. The arrangement contemplated giving clients access to onshore and offshore wealth solutions and exploring cooperation in asset management products and investment banking services.

At the time, 360 ONE also said its subsidiaries would acquire UBS's onshore wealth management business in India, subject to the required approvals.

The warrant conversion disclosed on October 22 completes the equity conversion component of UBS's investment. 360 ONE said UBS has exercised all warrants held by it rather than only part of the original allocation.