Acquisition of further stake in our subsidiary "Choice Insurance" subject to the requisite approval from "IRDA".
CHOICEIN · price
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Choice International Limited is acquiring the remaining 50% stake in its subsidiary Choice Insurance Broking India Private Limited, making it a wholly owned subsidiary. The deal involves buying 6,60,000 equity shares at Rs. 947 per share (including a Rs. 937 premium), for a total consideration of about Rs. 62.5 crore. The transaction is subject to IRDA approval, with a 12-month timeline for completion, and has been executed on an arm's length basis. Choice Insurance reported strong revenue growth, with turnover rising from Rs. 6.08 crore in FY23 to Rs. 88.59 crore in FY25, and a net worth of Rs. 19.66 crore as of March 2025.
This move allows Choice International to fully consolidate the profits and control of its fast-growing insurance broking subsidiary, which should be earnings-accretive once completed. For shareholders, it signals management's confidence in the insurance broking business, though the deal is pending regulatory clearance from IRDA.