Choice International to acquire full stake in Choice Insurance

Choice International Limited (BSE: CHOICEIN) announced its plans to acquire the remaining 50% stake in its subsidiary, Choice Insurance Broking India Private Limited. The acquisition involves 660,000 equity shares at a price of INR 947 per share, totaling a consideration of INR 62,50,20,000. This transaction will result in Choice Insurance becoming a wholly-owned subsidiary of Choice International, pending approval from the Insurance Regulatory and Development Authority (IRDA). The company aims to leverage growth opportunities within the financial services segment. As of March 31, 2025, Choice Insurance reported a turnover of INR 8858.85 lakhs and a net worth of INR 1965.59 lakhs. The acquisition is expected to be completed within 12 months from the execution date of the agreement.