360 ONE WAM Hits 3-Week High on GIFT City Subsidiary Approval

Shares of

WAM (formerly IIFL Wealth Management) rose 1.13% to ₹1,155.50 on the BSE today after the company received board approval to set up a wholly owned fund management subsidiary in GIFT City. The new entity will be a step-down wholly owned subsidiary through its existing arm, 360 ONE Asset Management (AMC), and will focus on onshore and offshore fund management activities from India’s only International Financial Services Centre in Gujarat. Trading volumes remained light at 12,381 shares, but the stock touched a three-week high of ₹1,156 — up nearly 9.5% from its recent low of ₹1,055 hit last week. Key market statistics (as of market close): Previous close: ₹1,142.60 Today’s range: ₹1,121 – ₹1,156 Market cap: ₹46,086 crore 52-week high/low: ₹1,317.25 (Jan 3, 2025) / ₹766.05 (Apr 7, 2025)