Choice Equity Broking Private Ltd. agreed to acquire Escorts Securities Limited from Escorts Finance Limited (BSE:511716), Escorts Limited (NSEI:ESCORTS) and others on April 8, 2021. Escorts Finance Limited will sell 1.46 million shares amounting 10.814% stake for INR 69.2 million and Escorts Limited will sell will 5.46 million shares amounting 40.444% stake for INR 54.6 million. Escorts Securities Limited reported total assets of INR 230.8 million and net assets of INR 127.6 million as at March 31, 2021. Escorts Securities Limited reported turnover of INR 104.3 million and profit after tax of INR 3.5 million during the year ending March 31, 2021. The deal is subject to regulatory approval. The Board of the Directors of Escorts Limited approved the sale on February 2, 2021. The deal is expected to complete in 3 months to 6 months.

Choice Equity Broking Private Ltd. completed the acquisition of Escorts Securities Limited from Escorts Finance Limited (BSE:511716), Escorts Limited (NSEI:ESCORTS) and others on February 14, 2021.