360 One WAM to acquire B&K Securities for ₹1,884 crore

360 One WAM has entered into a definitive agreement 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).

B&K is a leading mid-cap brokerage, servicing major foreign and domestic financial institutions, according to a press release by 360 One. The company is a full-service broker dealing with institutional investors and also offers corporate treasury services to its set of clients.

The acquisition, structured as a combination of a stock swap and part-cash transaction, is subject to regulatory approvals, the release added.

“Once completed, this strategic acquisition will help 360 ONE bolster its broking platforms across all market segments (UHNI, HNI, retail, institutions) along with growing its equity capital markets business to serve its existing client base. Additionally, B&K’s strong presence in the corporate treasury segment is another area of synergy for 360 ONE’s client base,” it further said.

‘Pivotal moment’

As part of the transaction, Saahil Murarka, Managing Director, B&K Securities, will also become a part of the 360 One Group and lead the broking and capital markets business.

Karan Bhagat, Founder, Managing Director & CEO, 360 One WAM, said: “This partnership marks a pivotal moment for both our firms. This acquisition strengthens our position as a market leader, enabling integration of research, advisory, and execution capabilities across a wider spectrum of services. We are excited to work with Saahil and his team to grow this business line and deliver better value to our institutional, corporate, and ultra-high-net-worth clients.”

Saahil Murarka, Managing Director, B&K Securities said, “We are incredibly proud of B&K’s history and heritage as one of India’s oldest financial services institutions. This partnership with 360 ONE WAM is a natural progression for us, combining the best our organisations have to offer. B&K’s expertise in equities, institutional and corporate financial services with 360 ONE’s comprehensive wealth management and asset management capabilities. We look forward to working closely and continuing to deliver exceptional service to our clients.”

Net jumps 42%

Meanwhile, 360 One WAM has posted a net profit of ₹275 crore, up 41.7 per cent y-o-y. Last year, the company posted a PAT of ₹194 crore. Total income rose 45 per cent at ₹678 crore (₹467 crore).