Choice International Limited's step down subsidiary M/s. Choice Wealth Private Limited has acquired mutual fund distribution business of "Centcart Money Services Private Limited" herein referred to as " Centcart".
The said acquisition of the mutual fund distribution business of "Centcart" was a complete cashdeal, 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 our application "Investica", which facilitates investors to attain financial freedom.
The said acquisition is part of "Investica's" inorganic growth strategy through which we shall continue to grow our 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.
Shares of CHOICE INTERNATIONAL LTD. was last trading in BSE at Rs. 150.65 as compared to the previous close of Rs. 148.15. The total number of shares traded during the day was 7426 in over 63 trades.
The stock hit an intraday high of Rs. 153.00 and intraday low of 148.15. The net turnover during the day was Rs. 1110038.00.