360 One Wam Limited (NSEI:360ONE) entered into a definitive agreement to acquire Moneygoals Solutions Limited for INR 3.66 billion March 31, 2024. The consideration will be paid partly in cash and partly by issuance of equity shares. 360 One Wam Limited will pay approximately INR 860 million in cash and will issue 3.59 million shares to Times Internet Limited.

For the year 2024, Moneygoals Solutions Limited reported revenue of INR 20.4 miilion. The transaction is subject to necessary approvals of Securities and Exchange Board of India, Stock exchanges, reserve Bank of India and other concerned regulatory authorities. The deal is also subject to the approval of shareholders of the 360 One Wam Limited.

the transaction has been approved by the Board of Directors of 360 One Wam Limited. The indicative time period for completion of the deal is around six months. Ernst & Young Private Limited, Investment Banking Arm acted as financial advisor to 360 One Wam Limited (NSEI:360ONE).