Choice International shares surge on announcing partnership with South Korean financial institution

Shares of Choice International, the Mumbai-based diversified financial services company, rose as much as 8.85% to hit an intraday high of ₹837.20 on Thursday, July 9. Choice International said that it entered a strategic partnership NH Investment & Securities, a leading South Korean financial institution and subsidiary of NH Financial Group.

As part of the deal, NH Investment & Securities will invest ₹900 crore in Choice Equity Broking Private Limited, the broking and wealth management arm of Choice International.

"This strategic investment marks a significant milestone in Choice's growth journey and reflects the confidence of NH Investment & Securities (NHIS), one of South Korea's leading financial institutions, in Choice's vision of building a next-generation financial services platform in India," Choice International said in a press release.

Beyond capital, the partnership brings significant strategic value by combining Choice's growing presence in India's financial markets with NHIS's global institutional expertise, technology-led operating model and experience in one of Asia's most sophisticated capital markets, the Mumbai-based company said.

"The collaboration is expected to facilitate knowledge sharing across institutional broking, research, capital markets, governance, risk management, compliance and operational excellence, while enhancing Choice's institutional capabilities and long-term competitiveness," Choice International added.

"This investment marks a significant milestone in our growth journey and reflects the confidence of a leading global financial institution in our vision, business model and long-term potential," said Arun Poddar, CEO & Executive Director, Choice International.

"This strategic investment marks an important milestone in further strengthening NH Investment & Securities' global business portfolio. Through our partnership with Choice Group, we will combine the strengths of both organizations to deliver differentiated financial services and build sustainable long-term growth engines for our global business," said Shin Jae Wook, President & CEO of NH Investment & Securities.

Choice International shares ended 7.27% higher at ₹825, outperforming the BSE 500 index which ended 0.74% higher.