Choice International jumps on securing in-principle approval from SEBI for setting up of mutual fund
Choice International is currently trading at Rs. 551.10, up by 14.35 points or 2.67% from its previous closing of Rs. 536.75 on the BSE.
The scrip opened at Rs. 559.85 and has touched a high and low of Rs. 563.05 and Rs. 539.40 respectively. So far 123488 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 568.85 on 17-Dec-2024 and a 52 week low of Rs. 221.80 on 28-Dec-2023.
Last one week high and low of the scrip stood at Rs. 563.05 and Rs. 525.50 respectively. The current market cap of the company is Rs. 10940.92 crore.
The promoters holding in the company stood at 58.21%, while Institutions and Non-Institutions held 12.81% and 28.98% respectively.
Choice International has received an In-Principle approval from Securities and Exchange Board of India (SEBI) for sponsoring/setting up of Mutual Fund. Accordingly, the Company would be setting up an Asset Management Company and the Trustee Company in accordance with applicable SEBI Regulations and other applicable laws.
The Final approval for registration will be granted by SEBI subject to fulfilment by the Company the requirements stipulated in the in principal approval letter.
Choice International offers services in area of project financing, assisting in raising funds by equity or debt routes, debt structuring, private equity, acquisitions, long term strategic planning, turnaround and structuring and joint ventures, divestitures and takeovers.
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