New Delhi, Feb. 26 -- 360 One WAM Ltd and Anand Rathi Wealth Ltd were the listed pure plays in wealth management in India. However, that will no longer be the case with 360 One's acquisition of B&K Securities and B&K Finserv.

360 One recently held an analyst call to discuss its acquisition of the B&K (Batlivala and Karani) group.

B&K Finserv is into mutual fund distribution and fits well into 360 One's existing business. As such, its acquisition price of Rs.110 crore is small. The big one to focus on is B&K Securities' stock broking business, which will be acquired through a combination of cash and equity, split into Rs.600 crore cash and 360 One's shares worth about Rs.1,174 crore.

Acquisition math

Before getting into the merits of t...