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Mumbai (Maharashtra) [India], April 9 (ANI/PRNewswire): Mumbai-based Choice Equity Broking Private Limited on Thursday has entered into an agreement to acquired 100 per cent stake in New Delhi based Escorts Securities Limited. The acquisition entails mainly the broking business and will be completed within the next six months, subject to necessary statutory approvals. "The buyout shall bring in operational synergies and shall augment the profitability of Choice Equity Broking with its increasing clientele," said Kamal Poddar, managing director of the BSE-listed Choice International and the ho...

Escorts along with other shareholders of Escorts Securities (ESL) have entered into a Share Purchase Agreement (SPA) with Choice Equity Broking (the Acquirer') a wholly owned Subsidiary of Choice International, to sell and transfer their entire shareholding in ESL to the Acquirer, subject to obtaining all applicable regulatory approvals. Upon completion of the aforesaid transaction in terms of the SPA, Escorts will sell and transfer its entire 40.444% shareholding in ESL and ESL will cease to be subsidiary of the Company. Powered by Capital Market - Live News (This story has not been edited...

The auto maker on Thursday announced that it has entered into an agreement to sell its entire stake in Escorts Securities to Choice Equity Broking, a wholly owned subsidiary of Choice International.Escorts will sell and transfer its entire 40.444% shareholding in Escorts Securities (ESL) to Choice Equity Broking. Post transaction, ESL will cease to be subsidiary of Escorts. The consideration from the proposed sale is approximately Rs 5.17 crore, subject to adjustments in respect of proportionate profit/loss till the closing date in terms of the agreement. Escorts Securities had a turnover of ...