The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Plutus Wealth Management LLP
CHOICEIN · price
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Plutus Wealth Management LLP, a non-promoter entity, has disclosed the acquisition of 60,00,000 equity shares (2.92% of share capital) in Choice International Ltd through the conversion of warrants into equity shares on 14th August 2025. Before this conversion, Plutus held zero equity shares but had 200,00,000 warrants representing 9.73% of the company's share capital. After the partial conversion, Plutus now holds 60 lakh shares directly (2.92%) plus 140 lakh warrants still pending conversion (6.81%), taking its combined economic exposure to 9.73% of total share capital and 8.97% on a diluted basis. The company's total share capital increased from Rs.199.65 crore to Rs.205.65 crore following this allotment. The acquirer is not part of the promoter group, suggesting this is an institutional/strategic investor building a position in Choice International.
This disclosure indicates a non-promoter investor is steadily building a sizeable ~9.73% stake in Choice International through warrant conversions. For shareholders, this signals institutional confidence in the company but also introduces a significant non-promoter shareholder whose future actions (further conversions or exits) could affect stock price and ownership dynamics.