New Delhi, July 9 -- South Korean financial services firm NH Investment & Securities Co. Ltd has agreed to invest nearly Rs 900 crore ($94.3 million) in Choice Equity Broking Pvt Ltd (CEBPL), according to a regulatory filing on Thursday.
CEBPL is the stockbroking and distribution arm of Mumbai-listed financial services firm Choice International Ltd.
Under the terms of the agreement signed on Thursday, the Seoul-headquartered investor will subscribe to about 4.23 million compulsorily convertible preference shares at Rs 2,130 apiece.
The capital injection will not result in a change of control at CEBPL, with Choice International retaining its position as the promoter and majority shareholder, it said in the filing. It didn't disclose the percentage stake the South Korean investor will own in CEBPL.
The transaction is subject to statutory and stock exchange approvals, required because CEBPL is a registered member broker. The deal is expected to close within the next 12 months.
CEBPL remains a major driver for its listed parent, contributing 51% of Choice International's consolidated turnover and 25% of its net worth for the financial year ended March 31, 2026. During that period, the broking arm posted revenue of Rs 573.26 crore and had a net worth of Rs 449.39 crore, compared to the parent company's consolidated turnover of Rs 1,119.13 crore and net worth of Rs 1,782.05 crore.
Choice International said the fresh capital will fund growth across CEBPL's core broking and distribution businesses.
Established in 1969, NH Investment is a subsidiary of NH Financial Group, one of South Korea's largest financial conglomerates. The firm operates more than 57 domestic branches alongside eight overseas offices.
Published by HT Digital Content Services with permission from VC Circle.