360 ONE WAM stock in focus as arm to acquire certain equity shares of Maple Infra InvIT

Shares of 360 ONE WAM Ltd are in focus on Friday after 360 ONE Alternates Asset Management, a wholly-owned subsidiary of the company, entered into a share purchase agreement to acquire certain equity shares of Maple Infra InvIT Investment Manager Private Ltd.

In a filing to BSE today, 360 ONE said it has proposed to make a minority financial investment in Maple, an investment manager entity for Maple Infrastructure Trust (formerly known as Indian Highway Concessions Trust). Maple Infrastructure Trust, registered as infrastructure investment trust with SEBI under the SEBI (Infrastructure Investment Trusts) Regulations, 2014, owns and operates more than 1,200 lane kms of road assets in India. 

Various schemes of 360 ONE Private Equity Fund, managed by 360 ONE AAM have invested in units of Maple Infrastructure Trust, it noted. 

360 ONE WAM said the cost of proposed acquisition is Rs 5,04,30,282.75 and the price at which the shares are proposed to be acquired is Rs 2.25 per share. The proposed acquisition is an acquisition of a minority stake and a financial investment and no governmental or regulatory approvals required for the proposed acquisition, the company said. 

MOFSL likes 360 ONE WAM and suggested a target price of Rs 1,350 on the stock. Fortifying its leadership in the UHNI segment through geographical expansion, the AMC is well poised for sustained growth in alternate space, MOFSL said. The brokerage believes investments in the HNI segment and global WM space may fructify over the
medium term. "Expect FY24-27 ARR AUM/revenue/ PAT CAGR of 24 per cent/ 20 per cent/23 per cent," it said.

360 One WAM had reported a strong Q2 with the recurring AUM growing 41 per cent YoY or up 10 per cent QoQ to Rs 2.4 lakh crore, with its 360 One Plus business posting the highest growth. The net flows remained strong at Rs 9,800 crore in Q2FY25  and Rs 15,300 crore for H1FY25. Following the results, Centrum Broking increased its FY25 estimates from Rs 25,000 crore to Rs 28,000 crore. 

"Yields remained soft owing to multiple factors and we lower our yield forecast by 2-3 bps over FY25-FY27. Riding on a strong AUM growth, PAT grew 33 per cent YoY to Rs 250 crore at end Q2 and we therefore revise the number upwards by 3-4 per cent over FY25-FY27. The stock is currently trading at 32 times Septemer 2026 EPS. We value the stock at an unchanged 33 times Sep’26 EPS – a ~10% premium to +1sd from long term mean to arrive at a revised TP of Rs 1,070 (vs Rs1,050 earlier)," it said in October.