1:1 Bonus Issue, Rs 4.5/Share Dividend: Mid Cap Co Issues Update On Subsidiary, Shares Up 152% In 3-Yrs

Leading wealth & asset management company

Ltd issued new update pertaining to its subsidiary 360 One Alternates Asset Management Limited. Earlier, 360 ONE WAM declared 4th interim dividend of Rs 4.5 per share of the face value of Re 1/- each and fixed January 29, 2024 as the record date.

Last trading price of 360 ONE WAM shares on BSE is Rs 722.25 apiece with intraday rally of 2.14%. 360 ONE WAM shares zoomed 41% in last 6-months and rallied 62% in last 1-year. Check details below:

360 ONE WAM Announces New Update On Subsidiary: As per the regulatory filing of 360 ONE WAM dated Feb 24, 2024, "This refers to our intimation dated October 31, 2023, with regards to incorporation of 360 ONE Alternates Asset Management Limited, a wholly owned subsidiary of the Company, for carrying out alternates asset management business, subject to necessary approvals from Securities and Exchange Board of India ("SEBI")."

Further, the Company on January 25, 2024, informed the exchanges about execution of Business Transfer Agreement ("BTA") for proposed transfer of business from 360 ONE Asset Management Limited (formerly known as IIFL Asset Management Limited), a wholly owned material subsidiary of the Company ("Transferor"), to 360 ONE Alternates Asset Management Limited ("Transferee"). The BTA provided for transfer of business consisting of management of the alternative investment funds in the capacity of acting as an investment manager registered with SEBI ("AIF Business") including the co‐investment Portfolio Management Business ("Co‐invest PMS") in the capacity of a co‐investment portfolio manager, from Transferor to Transferee, subject to necessary approvals, added the BSE filing of the company.

360 One WAM Dividend In 2024: As per the BSE filing of the company dated January 18, "fourth interim dividend for the financial year 2023-24 of Rs. 4.5/- (Rupees four and paise fifty only) per equity share of face value of Re. 1/- (Rupee one only) each and has fixed the record date as Monday, January 29, 2024, for this purpose. The said interim dividend will be paid / dispatched on or before Friday, February 16, 2024, subject to applicable taxes."

360 ONE WAM Bonus Issue In 2023: 360 ONE offered shareholders 1 bonus share since March 2, 2023. Its last bonus share was declared in the proportion of 1:1 and quoted ex-bonus on March 2, 2023.

360 ONE WAM Shares Performance & Return: The 52-week high price of 360 ONE WAM shares on BSE is Rs 743.00 apiece and 52-week low price is Rs 395.60 apiece, respectively. The company has a market capitalisation of Rs 25,896.00 crore. 360 ONE WAM shares gained 92% in last 2-years and gained 152% in last 3-years.
360 ONE WAM Financials: The company reported a jump of 7.7% year-on-year (YoY) in its Q3 PAT crore and 4.7% QoQ surge at Rs 194 crore. It declared its Q3 total revenues at Rs 467 crore, up 13.9% YoY and 5.7% QoQ.

Disclaimer: The stock highlights the new update on subsidiary and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.