Choice International Ltd to Acquire Remaining 50% Stake in Subsidiary Choice Insurance Broking India Private Limited for INR 62,50,20,000

Choice International Ltd has agreed to acquire an additional 50% stake in its subsidiary, Choice Insurance Broking India Private Limited, for a total consideration of INR 62,50,20,000. The acquisition will be made by purchasing 6,60,000 equity shares at a price of INR 947 per share, including a premium of INR 937 per share. Upon completion of the transaction, Choice International Ltd will hold 100% stake in Choice Insurance Broking India Private Limited, making it a wholly owned subsidiary. The transaction is subject to approval from the Insurance Regulatory & Development Authority (IRDA).