Korea's NH Investment invests ₹900 cr in Choice International's broking arm

The South Korean financial services firm will invest through compulsorily convertible preference shares to support Choice Equity Broking's expansion plans

South Korea-based NH Investment & Securities, a subsidiary of NH Financial Group, has invested ₹900 crore in compulsorily convertible preference shares (CCPS) of Choice Equity Broking, the broking and wealth management arm of Choice International.

 

Choice Equity allotted 4.2 million CCPS priced at ₹2,130 per share, totalling ₹899.99 crore, subject to regulatory and exchange approvals, according to a regulatory filing. The investment will be converted into equity shares by July 9, 2027.

 

"NHIS brings deep institutional expertise, global market insights and advanced digital capabilities that complement our strengths in serving India's rapidly expanding investor base," said Arun Poddar, Chief Executive Officer and Executive Director, Choice International, in a press release.

 

 

The company said the investment will fund Choice Equity's growth and expansion plans, pursue strategic opportunities, and meet business needs. It expects to grow fivefold over the next three years across its broking and distribution verticals.

 

Choice International's stock rose 7.27 per cent to ₹825 per share on Thursday, while NH Investment & Securities' stock fell 1.83 per cent to 29,450 Korean won on the Korea Exchange.