M&A
Choice Intl acquires distribution biz of 2 wealth mgmt cos, expands AUM to Rs.635-Cr
Mumbai-based, publicly listed financial services group Choice International has announced acquisitions that add combined assets under management (AUM) of INR 635 crore.The company, through its subsidiaries, has acquired the distribution business of the Fintoo Group, which will add around INR 300 crore to its wealth management portfolio.In addition, the company has also acquired the distribution business of Pune-based Glory Prime Wealth Pvt Ltd, which manages an AUM of INR 210 crore.Choice has also formed a strategic business association with four mutual fund distributors based in Himachal Pradesh, adding another INR 125 crore in AUM.Choice is a part of the Choice group conglomerate and offers financial services, including stock market and mutual fund investments, insurance and loans.
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