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Choice International’s arm to acquire NBFC, Loan Distribution Portfolios

22 Oct 2024 Evaluate

Choice International’s NBFC arm -- Choice Finserv is all set to acquire retail lending business of Paisabuddy Finance and Sureworth Financial Services. This strategic move significantly expands Choice Finserv's presence in the retail loan segments as well its assets under management (AUM). These acquisitions will be done under a slump sale transaction which will be subject to requisite approvals.

The acquisition encompasses the retail loan portfolios, team size, operations, and infrastructure of both the Jaipur-headquartered companies. Paisabuddy Finance, an established MSME lender across Rajasthan, Gujarat and Madhya Pradesh (MP), will bring in a portfolio of Rs 278.54 crore AUM, while Sureworth Financial Services, which specializes in MSME loans and Affordable Housing Loans, adds Rs 65.38 crore AUM to Choice Finserv, taking the total AUM to Rs 801.6 crore, including off-book AUM.

The acquisition also aligns with Choice Finserv's commitment to sustainable finance, as the company plans to expand its green finance initiatives, including funding for rooftop solar projects and electric vehicles. The integration will expand Choice Finserv's branch network from 71 to 168 locations across Rajasthan, Gujarat, and Madhya Pradesh, Maharashtra, Uttar Pradesh and Delhi NCR, while growing its workforce from 536 to 1,180 employees. This will strengthen the company's ability to cater to the underserved markets with focused MSME lending and retail loan products. 

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

725.50 5.60 (0.78%)
17-Apr-2026 16:59 View Price Chart
Peers
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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