360One feels the Bain

360One (formerly IIFL Wealth) is the top loser on the BSE since the opening bell today morning; from its close of Rs.1221.10 yesterday, the stock opened lower today at Rs.1176 and fell down further to Rs.1143.80; its recovered a bit but still trading in the red at Rs.1152.

The stock has tumbled down after a large block trade involving 0.19 crore shares was executed at open. The deal likely marks an exit by Bain Capital, a key early investor. While the stock saw near-term pressure, the company’s fundamentals remain robust, and institutional absorption of the block could offer stability.

This was a technical correction driven by supply shock as there is  no negative trigger from company performance or earnings.

Bain Capital, a long-standing private equity investor in 360 One WAM, is believed to have exited or significantly pared its stake in this transaction. The exit aligns with Bain’s strategy to gradually unlock capital from maturing investments.

Bain originally acquired its stake when IIFL Wealth (now 360 One WAM) was part of the IIFL Group, prior to the 2020 demerger.

It has steadily trimmed its stake over the years, particularly after the listing and renaming of the company.

The recent block deal traded today (22nd July 2025) strongly suggests Bain may have fully exited or brought its holding down to negligible levels.