Choice International acquires full stake in Choice AMC Private

Choice International Limited (BSE: CHOICEIN) announced today the acquisition of the entire stake in its step-down subsidiary, Choice AMC Private Limited. This move follows the In-Principle approval granted by SEBI, for setting up a Mutual Fund, which requires establishing an asset management company. Choice International acquired 6,110,000 equity shares for INR10 each. The company also infused further capital acquiring 50,000,000 new equity shares for INR10 each. Post this acquisition, Choice AMC Private Limited becomes a wholly-owned subsidiary. The acquisition enhances Choice International's strategic position in the asset management sector. Choice AMC Private's last year turnover was INR 60.15 lakhs as of March 31, 2024. The transaction is not subject to governmental or regulatory approvals.