Choice International shines after its arm acquires mutual fund distribution business of ‘Bank Bazaar’

13 Oct 2020 Evaluate

Choice International is currently trading at Rs. 113.95, up by 5.35 points or 4.93% from its previous closing of Rs. 108.60 on the BSE.

The scrip opened at Rs. 114.80 and has touched a high and low of Rs. 114.80 and Rs. 111.60 respectively. So far 5753 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 149.90 on 07-Jul-2020 and a 52 week low of Rs. 38.65 on 14-Oct-2019.

Last one week high and low of the scrip stood at Rs. 114.80 and Rs. 106.00 respectively. The current market cap of the company is Rs. 227.95 crore.

The promoters holding in the company stood at 73.42%, while Institutions and Non-Institutions held 0.05% and 26.53% respectively.

Choice International’s step down subsidiary Choice Wealth Management has acquired mutual fund distribution business of ‘Bank Bazaar’. In 2016, Bank Bazaar had forayed into online mutual fund distribution space from select asset management companies using a proprietary research methodology for investors.

The said acquisition of the mutual fund distribution business of ‘Bank bazaar’ was a complete cash-deal, with a win-win situation for both the entities. The users of Bank Bazaar shall be in position to access the research tools available on Choice's online platform for investing in mutual funds through application ‘Investica’, which facilitates investors to attain financial freedom. The said acquisition is part of Investica's inorganic growth strategy.

Choice International offers services in area of project financing, assisting in raising funds by equity or debt routes, debt structuring, private equity, acquisitions, long term strategic planning, turnaround and structuring and joint ventures, divestitures and takeovers.

Choice International Share Price

274.00 13.60 (5.22%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
ICICI Securities 729.00
Angel One 3043.90
Motilal Oswal Fin 1670.00
Share India Sec. 1600.00
SMC Global Sec. 124.20
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