India, July 9 -- Choice International Ltd. has entered into a strategic partnership with South Korea's NH Investment & Securities Co. Ltd. (NHIS), which will invest Rs 900 crore (Rs 9,000 million) in its broking and wealth management arm, Choice Equity Broking Pvt. Ltd. (CEBPL).
The investment will be made through Compulsorily Convertible Preference Shares (CCPS) and will serve as growth capital to expand the company's broking, wealth management, investment distribution and capital markets businesses. The funds will also be used to strengthen the margin trading funding (MTF) book, invest in technology, customer acquisition, product innovation, talent development, and business scalability.
Beyond the capital infusion, the partnership will ...