Choice International Limited submitted a regulatory disclosure under SEBI Regulation 30 regarding the allotment of Compulsorily Convertible Preference Shares (CCPS) by its material subsidiary Choice Equity Broking Private Limited (CEBPL) to NH Investment & Securities Co., Ltd.
The disclosure serves as a continuation of the company's earlier intimation dated July 09, 2026, which referred to the execution of Shareholders' Agreement (SHA) and Share Subscription Agreement (SSA) (collectively referred to as "Definitive Agreements") by Choice International Limited and CEBPL with the investor.
CEBPL has issued and allotted 42,25,350 (Forty-Two Lakh Twenty-Five Thousand Three Hundred and Fifty) CCPS to NH Investment & Securities Co., Ltd., a company incorporated and existing under the laws of the Republic of Korea. The allotment was made after receipt of requisite approvals.
The CCPS were allotted at a subscription price of ₹2,130 per CCPS, comprising:
- Face value: ₹10 per CCPS
- Securities premium: ₹2,120 per CCPS
- Total aggregate value: ₹8,99,99,95,500 (Rupees Eight Hundred Ninety-Nine Crore Ninety-Nine Lakh Ninety-Five Thousand Five Hundred only)
The CCPS shall be convertible into equity shares of CEBPL in accordance with the terms and conditions stipulated in the Definitive Agreements. Upon conversion, the equity shares so allotted shall rank pari passu with the existing equity shares of CEBPL.
The company explicitly states that the allotment of CCPS to the investor and the subsequent conversion of such CCPS into equity shares of CEBPL will not result in any change in the control of CEBPL.
Investor Profile
NH Investment & Securities Co., Ltd. is headquartered in Seoul, South Korea, and operates as a core subsidiary of NH Financial Group. The company was established in 1969 and provides securities brokerage, wealth management, investment banking, and capital markets solutions through:
- Over 57 domestic branches and offices
- 8 overseas operations across key global financial centers
- Workforce of more than 3,000 professionals
The investor serves retail, corporate, and institutional clients with a well-established and integrated platform.
Strategic Rationale
The strategic investment represents a valuable opportunity for CEBPL to partner with a distinguished and highly reputed investor, reflecting the investor's confidence in CEBPL's business model, management, and future prospects.
The disclosure was signed by Karishma Praful Shah, Company Secretary & Compliance Officer of Choice International Limited, and submitted to both BSE Limited and NSE Limited for information and records.