Choice International Limited has successfully completed the acquisition of the remaining 50% equity stake in its subsidiary, Choice Insurance Broking India Private Limited. The total transaction consideration amounted to ₹62,50,20,000 (₹62.50 Crore), paid at an effective price of ₹947 per share. This strategic move elevates Choice Insurance Broking to a wholly owned subsidiary, aligning with the company’s objective to strengthen its presence in the high-potential Financial Services and Insurance segment.
Completion of Full Acquisition in Insurance Subsidiary
Choice International Limited announced on March 10, 2026, the successful execution of an agreement to purchase the remaining 50% equity stake in its subsidiary, Choice Insurance Broking India Private Limited (“Choice Insurance”). This acquisition elevates Choice International’s holding from 50% to a 100% stake, making the subsidiary a wholly owned subsidiary.
Transaction Value and Pricing Details
The total consideration paid for the 6,60,000 equity shares acquired was ₹62,50,20,000 (Rupees Sixty-Two Crore Fifty Lakhs Twenty Thousand only). The shares were acquired at an issue price of ₹947/- per share, which included a premium of ₹937/- per share over the face value of ₹10/-.
Key financial details of the target entity, Choice Insurance Broking India Private Limited, as of March 31, 2025, were:
- Turnover: INR 8858.85 lakhs
- Net Worth: INR 1965.59 lakhs
Rationale and Regulatory Compliance
The strategic rationale behind this acquisition is driven by the strong potential identified within the Insurance segment. The company aims to pursue emerging opportunities and further strengthen its business framework within this domain, which falls under the Financial Services – Insurance industry.
The transaction was executed on an Arm’s Length basis, as the shares were acquired from Mr. Awjit Bhagat, who is not related to the Company Promoters or the Company itself. Furthermore, the necessary approval required from the Insurance Regulatory and Development Authority of India (IRDAI), under which Choice Insurance operates as a member broker, has been successfully obtained, paving the way for the completion of the acquisition.
Historical Turnover Summary
The turnover history for Choice Insurance Broking India Private Limited over the last three financial years is detailed below:
| Period | Turnover (Rs. In Lakhs) |
|---|---|
| 1st Previous year (2024-25) | 8858.85 |
| 2nd Previous year (2023-24) | 8647.55 |
| 3rd Previous year (2022-23) | 608.45 |
The acquired entity currently has its presence solely in India.
Source: BSE
