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Wealth and asset manager 360 One WAM will acquire brokerage house Batlivala & Karani Securities and Batlivala & Karani Finserv for Rs 1,884 crore, the company said on Monday.
The definitive agreement for the acquisition includes Rs 200 crore of cash and cash equivalents. B&K is a leading mid-cap brokerage servicing foreign and domestic financial institutions. Sahil Murarka, the managing director at B&K Securities, will join the 360 One group and lead the broking and capital markets business after the transaction.
The deal is subject to regulatory approvals.
“B&K’s strong presence in the corporate treasury segment is another area of synergy for 360 One’s client base,” the company added.
Meanwhile, 360 One reported a net profit of Rs 276 crore for the third quarter of FY25, registering a 44 per cent year-on-year increase. The total revenue from operations in the December quarter stood at Rs 759.83 crore, up from Rs 629.78 crore recorded in the corresponding quarter a year ago.
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