Bain Capital sells 3.7% stake in 360 ONE WAM for Rs 1,741 crore
major Bain Capital on Tuesday divested a 3.71 per cent stake in
wealth management
firm
360 ONE WAM
for Rs 1,741 crore through open market transactions.
Following the stake sale, shares of
360 ONE WAM
fell 6.25 per cent to close at Rs 1,144.90 apiece on the NSE.
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US-based Bain Capital through its affiliate BC Asia Investments X Ltd offloaded a total of 1.50 crore
equity
shares, amounting to a 3.71 per cent stake in 360 ONE WAM, as per the
bulk deal
data on the National Stock Exchange (NSE).
The shares were disposed of in the price range of Rs 1,160.10-1,161.42 apiece, taking the combined deal value to Rs 1,741.14 crore.
After the latest transaction, Bain Capital's holding in Mumbai-based 360 ONE WAM has come down to 18.21 per cent from 21.92 per cent.
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Details of the buyers of 360 ONE WAM's shares could not be ascertained on the exchange.
In 2022, Bain Capital announced that it will acquire a 24.98 per cent equity stake in
IIFL Wealth Management
(now known as 360 ONE WAM) for nearly Rs 3,700 crore. The company had said that it will acquire stakes from PE firm General Atlantic and billionaire Prem Watsa-owned FIH Mauritius.
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