Sumary of Choice Broking to acquire Escorts Securities for Rs 13 cr:
- City-based brokerage Choice Equity Broking is set to acquire 100 per cent stake in Escorts Securities for around Rs 13 crore..
- In a statement, Choice said it has entered into an agreement to acquire 100 per cent stake in Escorts Securities, promoted by a family present in the auto business..
- , the listed parent of Escorts Securities, said it is selling 40.444 per cent stake in the brokerage to Choice for Rs 5.17 crore..
- Choice did not share the total consideration for the purchase, but the overall valuation, going by the exchange announcement, comes at about Rs 13 crore..
- “The buyout shall bring in operational synergies and shall augment the profitability of Choice Equity Broking with its increasing clientele,”…