360ONE

Business Quality (Important for Long-Term Valuation) Type: Asset-light financial services model. Main revenue streams: Wealth advisory fees Asset management fees Alternative investments (AIF / PE / credit) Institutional broking & investment banking Key positives: Large HNI client base (~8500 clients) Very high operating leverage (AUM grows faster than costs) Recurring fee income model Strategic deals like UBS wealth business acquisition in India strengthen positioning Industry tailwind: India’s HNI population is expanding rapidly, increasing demand for professional wealth management. FII holding: 65% Mutual funds: 8% Meaning: Heavy institutional participation Can create volatility due to block deals (e.g., stake sale events triggered price fall earlier).