Acquisition of further stake in our subsidiary "Choice Insurance" on receipt of approval from IRDA .
CHOICEIN · price
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Choice International Limited has acquired the remaining 50% equity stake in its subsidiary Choice Insurance Broking India Private Limited, making it a 100% wholly owned subsidiary. The company purchased 6,60,000 equity shares at ₹947 per share (including a ₹937 premium) for a total consideration of ₹62.50 crores. The transaction was executed after receiving necessary approval from IRDAI and was done on an arm's length basis with an unrelated seller, Mr. Awjit Bhagat. Choice Insurance reported a turnover of ₹88.59 crores in FY25 and has a net worth of ₹19.66 crores.
This acquisition gives Choice International full control over its insurance broking subsidiary, enabling streamlined decision-making and allowing the company to capture 100% of future profits from the subsidiary. It strengthens the company's position in the financial services-insurance segment, which is a core business line.