EGM to approve retail client business transfer for Rs 5 crore
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The first EGM for FY2026-27 is scheduled for November 18, 2026, seeking approval to transfer most retail client operations for Rs 5 crore. Choice Equity Broking will pay Rs 4.5 crore for retail trading and depository participant businesses, while Choice Wealth will pay Rs 50 lakh for mutual fund and other financial product distribution. The HNI business at Branch 1001 and proprietary trading will remain. The transferred business contributed 30.48% of FY2025-26 revenue. Completion is targeted by February 28, 2027, subject to approvals.
Approval could add Rs 5 crore for debt reduction and growth, but would transfer businesses contributing 30.48% of FY2025-26 revenue, reshaping earnings.