Choice broking arm gets 900 crore investment from Korea's NH Investment

Marquee Jv AnnouncedStrategic Transactions View source PDF

CHOICEIN · price

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AI summary

Choice International's material subsidiary Choice Equity Broking (CEBPL) will issue 42.25 lakh CCPS to South Korea's NH Investment & Securities at 2,130 rupees each, raising about 900 crore rupees. CEBPL contributes 51 percent of Choice International's turnover. NH will get board representation and consent rights on reserved matters but will not gain control of CEBPL. Investment is subject to statutory and exchange approvals, expected to close within 12 months.

Likely market impact

Boosts CEBPL capital for growth and expansion. Choice International's effective stake in CEBPL will dilute on conversion. No change in control.