Choice Subsidiary Allots CCPS Worth ₹899.99 Cr to NH Investment

Choice International Ltd's material subsidiary, Choice Equity Broking Private Limited (CEBPL), has successfully issued and allotted 42,25,350 Compulsorily Convertible Preference Shares (CCPS) to NH Investment & Securities Co., Ltd. (Investor), a South Korean entity. The total subscription amount is ₹899.99 Crore (₹8,999,995,500), with each CCPS subscribed at ₹2,130, comprising ₹10 face value and ₹2,120 in securities premium. These CCPS are convertible into equity shares of CEBPL as per the Definitive Agreements, ranking pari passu with existing equity shares upon conversion. This strategic investment by NH Investment, a subsidiary of NH Financial Group, is seen as a testament to their confidence in CEBPL's business model and future prospects. The transaction will not alter the control of CEBPL.