360 ONE Wealth Management (WAM), a prominent player in the wealth management sector, has finalized an agreement to acquire ET Money, the wealth advisory platform owned by Times Internet, for Rs 366 crore.
The acquisition, structured through a combination of cash and share swap, marks a strategic move by 360 ONE to enhance its client offerings across diverse segments.
According to a stock exchange filing, the acquisition is aimed at integrating ET Money’s robust client base and operational capabilities into 360 ONE’s existing framework, thereby bolstering its market position.
ET Money currently serves 900,000 transacting clients, out of which more than 100,000 are revenue-generating users. The platform manages an impressive Assets Under Management (AUM) amounting to Rs 70,000 crore.
With gross monthly sales exceeding Rs 1,200 crore, ET Money demonstrates substantial activity in Systematic Investment Plans (SIPs) totaling Rs 450 crore monthly and Mutual Fund (MF) net flows reaching nearly Rs 750 crore per month.
This acquisition underscores 360 ONE’s strategic intent to leverage ET Money’s extensive market presence and operational scale to strengthen its wealth management portfolio and expand its service offerings in the competitive financial services landscape.
