Choice Broking to acquire Escorts Securities for Rs 13 cr

choice broking to acquire escorts securities for rs 13 cr

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,”…

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