360 ONE WAM Limited has announced that its wholly owned subsidiary, 360 ONE Alternates Asset Management Limited, has successfully completed the acquisition of a 100% equity stake in Quark Solar Private Limited. This transaction, finalized on April 30, 2026, results in Quark Solar becoming a step-down wholly owned subsidiary of the company.

The acquisition follows the initial execution of the Share Purchase Agreement (SPA) on April 20, 2026. This strategic move is part of 360 ONE’s ongoing expansion within the alternative asset space, specifically targeting the renewable energy sector through Quark Solar’s established operations.

360 ONE WAM Limited, formerly known as IIFL Wealth Management, is a premier Indian financial services firm specializing in wealth and asset management for ultra-high-net-worth individuals and institutional clients. The company manages approximately ₹7.11 lakh crore in assets under management (AUM) as of late 2025 and operates across 27 offices in India and five international locations. Quark Solar Private Limited, the newly acquired subsidiary, functions as a developer of solar energy projects and reported a revenue of ₹19.6 crore for the financial year ending March 31, 2025.

For the third quarter of fiscal year 2026, 360 ONE WAM reported a consolidated revenue of ₹826 crore. The company’s financial performance has been supported by major institutional investors, including Bain Capital, which holds a significant 18.13% stake through BC Asia Investments X Limited. Other notable investors include the Smallcap World Fund and ICICI Prudential Balanced Advantage Fund. In early 2025, the firm further expanded its footprint by acquiring UBS’s onshore wealth management business in India for ₹307 crore.