Big Deal Approved! 360 ONE’s Acquisition of B&K Securities Signals New Era in Indian Finance

India's Competition Commission (CCI) has cleared the acquisition of Batlivala & Karani Securities (B&K Securities) and Batlivala & Karani Finserv by wealth and asset management behemoth 360 ONE WAM, in a significant consolidation in India's financial services sector.

 

Important Points:

 

Deal Value and Structure: The deal is worth ₹1,884 crore, of which ₹200 crore will be in cash and cash equivalents. The deal is structured as a combination of stock exchange and cash consideration, with 360 ONE to acquire 100% of the fully paid-up equity share capital of B&K Securities and Finserv on a fully diluted basis.

 

Regulatory Milestones: The CCI’s green light follows SEBI’s prior approval under the Merchant Bankers Regulations, clearing the way for the deal’s completion. The acquisition is still subject to final regulatory and shareholder approvals.

 

Strategic Rationale: B&K Securities, one of the top mid-cap broking houses with a strong franchise in domestic and foreign institutional investors, offers intense experience in equities and corporate treasury business. Acquisition of B&K Securities will enhance 360 ONE's broking and capital markets business, increase its client franchise in the UHNI, HNI, retail, and institutional segments, and reinforce its equity capital markets platform.

 

Leadership Integration: Saahil Murarka, Managing Director of B&K Securities, will be joining 360 ONE and will head the broking and capital markets business, ensuring continuity and building on B&K's heritage of independent, research-based service.

 

Market Impact: The transaction makes 360 ONE a market leader in India's wealth, asset, and capital markets with the potential to offer better research, advisory, and execution for clients.

 

By making this strategic buy, 360 ONE will recast the boundaries of India's financial services space.

 

Sources: Business Standard, Hubbis, MarketScreener, SRE, PIB