Choice International’s step down subsidiary -- Choice Wealth has acquired mutual fund distribution business of ‘Centcart Money Services’ (Centcart). The said acquisition of the mutual fund distribution business of Centcart was a complete cash deal, with a win-win situation for both the entities. The users of Centcart shall be in position to access the research tools available on Choice's online platform for investing in mutual funds through its application Investica, which facilitates investors to attain financial freedom.
The said acquisition is part of Investica's inorganic growth strategy through which the company shall continue to grow its share and size in the Fintech mutual fund distribution business. The acquisition of the mutual fund distribution business of Centcart shall enable Investica to rapidly grow its AUM and number of clients and push it towards the category of large Mutual Fund Investment platforms with complete focus on wealth creation for its clients.
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.
| Company Name | CMP |
|---|---|
| Motilal Oswal Fin | 815.95 |
| Angel One | 323.35 |
| IIFL Capital Service | 313.40 |
| Nuvama Wealth | 1403.20 |
| Share India Sec. | 147.05 |
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