360 One Wealth acquires Batlivala & Karani Securities for Rs.1,884-Cr
Mumbai-based Batlivala & Karani Securities and Batlivala & Karani Finserv have been acquired by fellow Mumbai-based wealth management company, 360 One Wealth and Asset Management for INR 1,884 crore.The acquisition has been structured as a combination of a stock swap and part-cash transaction. 360 One will pay INR 611 crore in cash and issue 10 million shares of the listed company at INR 1,174.13 per share. The acquisition is expected to bolster 360 One's broking platforms across all market segments.As part of the deal, Saahil Murarka, managing director of B&K Securities, will join the 360 One Group and lead its broking and capital markets business.B&K is a mid-cap brokerage that primarily caters to institutional investors, and provides corporate treasury services to its clients.
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