360 ONE’s Subsidiary Receives In-Principle Approval from IFSCA to Become Fund Management Entity
360 ONE WAM LIMITED announced that its subsidiary, 360 ONE Global Asset Management (IFSC) Limited (GAM), has received in-principle approval from the International Financial Services Centres Authority (IFSCA).GAM, which is a wholly owned subsidiary of 360 ONE Asset Management Limited (AMC) and a step-down wholly owned subsidiary of 360 ONE WAM LIMITED, has been granted this approval to function as a Fund Management Entity (Retail).
The company stated that AMC will infuse the necessary capital into GAM. Following this, GAM will obtain its final registration certificate from the IFSCA and commence its asset and fund management business operations at GIFT City in due course.
360ONE Stock Price Movement
Shares of 360 ONE WAM LIMITED today slipped by 0.75% to close at ₹1109.25. The equity traded on a volume of 671,866 shares, indicating significant post-market activity.Source:
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