UBS acquires 4.8% stake in Indian wealth manager 360 ONE WAM

Bloomberg reports UBS acquired a 4.8% stake in 360 ONE WAM by converting warrants. The Economic Times, citing a 360 ONE exchange filing, says UBS exercised all 2.05 crore warrants and paid the remaining 75% of the exercise price, around Rs 1,584 crore. The warrants were part of an April 2025 partnership under which UBS agreed to sell its Indian onshore wealth management business to 360 ONE for about $32 million.