Capital Group Increases Stake in 360 ONE WAM Amid Penalty Dispute

Capital Group has expanded its stake in 360 ONE WAM, an asset and wealth management firm, acquiring shares worth Rs 245 crore. This transaction increased Capital Group's total holdings, via its affiliates, to 12.11%. The purchase was executed through an open market transaction, according to BSE data.

Shares of 360 ONE WAM experienced a slight downturn, closing at Rs 1,165, reflecting a drop of 2.12%. Despite the penalty imposed on its subsidiary for alleged misreporting, 360 ONE WAM maintains that it will not significantly impact the company's operations or financial position.

In regulatory filings, 360 ONE WAM acknowledged a penalty issued by MCXCCL against its wholly-owned subsidiary for allegedly misreporting collateral. The company intends to appeal the penalty, underscoring that this issue should not affect its overall financial health.

(With inputs from agencies.)