Acquisition of 100% stake in Optimo Investment Adviser Private Limited by the Company.
CHOICEIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Choice International Limited has acquired 100% equity stake (10,000 shares) in Optimo Investment Adviser Private Limited for a total consideration of just Rs. 1,000 (Rs. 0.1 per share). Optimo is a dormant company with NIL turnover for the last three years and a negative net worth of Rs. 98,022. Post-acquisition, Optimo will become a wholly owned subsidiary and will be renamed 'Choice Unified Services Private Limited'. The acquisition is a related party transaction (shares acquired from Mr. Ajay Kejriwal and Mrs. Babita Kejriwal) conducted at arm's length. The purpose is to use this entity for providing group support services, enhancing operational efficiency, and optimizing costs.
The deal is financially negligible at Rs. 1,000 since Optimo is a shell company with no operations. It is a strategic restructuring move to create a vehicle for in-house support services rather than a value-accretive acquisition, so shareholders should not expect immediate financial upside from this transaction.