The board of 360 One WAM Ltd (formerly known as IIFL Wealth Management Limited) is scheduled to meet on Sept. 19 to consider a proposal for raising of funds.
In a notification to the stock exchanges, the company said the board will evaluate an issue of equity shares through various options, including through a qualified institutions placement.
Shares of the company traded 1.24% lower at Rs 1,092 on the BSE. In comparison, the benchmark Nifty 50 remained lower by 0.13%.
Wealth management firms, like 360 WAM have benefited from the upsurge in investors in India's markets. The company's share price has risen nearly 100% during the last year and has advanced by 55.5% so far in 2024.
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