Mumbai, July 9 -- South Korea's NH Investment & Securities Co Ltd has picked up a stake worth Rs.900 crore in Choice International Ltd's broking and wealth management arm, the diversified financial services group said in a joint statement.

Under the deal terms, the Korean firm is expected to get about a 12-15% stake in Choice Equity Broking Pvt Ltd at an enterprise value of Rs.7,500 crore, a person familiar with the matter said.

The strategic partnership reflects NH Investment & Securities' confidence in Choice's vision of building a next-generation financial services platform in India. The capital will be deployed to drive overall business expansion, including the growth of the margin trading facility (MTF) loan book, alongside strateg...