Choice International has informed that the company has entered in to a Share Purchase Agreement (SPA) on this 26th November, 2018 for sale of its 19.51% stake in the company Aqua Pumps Infra Venture consisting of 29,52,850 Equity Shares at a Price of Rs 25 each resulting in a total cash consideration of Rs 7,38,21,250 to Sandeep Agarwal the Acquirer. Aqua Pumps Infra Venture contributed to around 0.21% of the company's ‘Choice International’ Consolidated Income during the FY 2017-18. The Transfer of Shares pursuant to the execution of the said agreement shall be duly completed latest by the month of January, 2019. The said transaction does not fall under the purview of related party transaction and the acquirer to whom the shares are sold does not form a part of Promoter group of the company Aqua Pumps Infra Ventures.
The above information is a part of company’s filings submitted to BSE.