Times Internet is selling 100% of its stake in investment wealth platform ET Money for around INR 366 Cr (~$44 Mn) in a part cash and stock swap deal to wealth management platform 360 ONE WAM, the latter's stock exchange filing revealed

360 One has paid INR 85.83 Cr in cash, with the remaining amount settled through the issuance of 35,90,000 fully paid-up equity shares.

As a part of the deal, 360 One WAM is acquiring two entities of ET Money - Banayantree Services Pvt Ltd, and Moneygoals Solutions Pvt Ltd.

The acquisition is expected to reinforce 360 One WAM's (formerly known as IIFL Wealth Management) position as a premier wealth manager in the country. The acquisition is currently subject to approval.

360 One WAM is the wealth management arm of financial services provider 360 ONE. The parent company also invests in startups and counts BYJU'S, Swiggy, Policybazaar, Licious, Nykaa among other startups and listed companies.