Choice International has strategically expanded its wealth management segment through multiple acquisitions, adding approximately ₹635 Crore in Assets Under Management (AUM). Key acquisitions include the distribution business of Fintoo Group and Glory Prime Wealth Private Limited, along with a strategic alliance with four mutual fund distributors in Himachal Pradesh. These moves are designed to build a tech-driven, multi-channel wealth platform and enhance the company’s presence across India.
Strategic Acquisitions in Wealth Management
Choice International Limited has announced a series of strategic acquisitions aimed at significantly scaling and strengthening its wealth management business. The company has added approximately ₹635 Crore in Assets Under Management (AUM) through these initiatives.
Acquisition of Fintoo Group’s Distribution Business
Through its subsidiaries, Choice International has entered into definitive agreements to acquire the distribution business of the Fintoo Group. This includes the distribution of Wealth Products, Insurance Products, Alternative Investment Funds (AIFs), and Portfolio Management Services (PMS) that are currently operated under Mihika Financial Services Private Limited and Mihika Insurance Marketing Firm LLP. This acquisition will contribute an incremental AUM of approximately ₹300 crores to Choice’s wealth management business.
Acquisition of Glory Prime Wealth Private Limited
Choice International has further strengthened its distribution footprint by acquiring the distribution business of Glory Prime Wealth Private Limited, a Pune-based wealth products distributor managing an AUM of ₹210 crores. This acquisition will enhance Choice’s presence in Western India and broaden its client base.
Strategic Association with Mutual Fund Distributors
The company has also formed a strategic business association with four mutual fund distributors based in Himachal Pradesh. Through this association, they have merged their wealth management business with Choice, contributing an additional AUM of ₹125 crores.
Focus on Tech-Driven Wealth Platform
These acquisitions underscore Choice’s accelerated expansion in the wealth and investment management space. The company aims to build a tech-driven, multi-channel wealth platform. This strategy includes integrating Fintoo and Glory Prime’s strong distribution networks to deliver comprehensive, personalized, and scalable investment solutions.
Source: BSE
