Choice International Limited and its wholly owned subsidiary, Choice AMC Private Limited (CAPL), have received approval from the Securities and Exchange Board of India (SEBI) to sponsor and manage Wealthwave Capital Trust, a Category II Alternate Investment Fund (AIF). This regulatory approval enables the company to expand its investment offerings and strengthen its capabilities in the alternative investment space, marking a significant step in its vision to build a comprehensive financial services ecosystem.

The approval was conveyed via a letter or No Objection Certificate (NOC) from SEBI. It authorizes Choice International to act as the sponsor of Wealthwave Capital Trust. Simultaneously, Choice AMC Private Limited is authorized to act as the Investment Manager to the fund. The specific authorization for the subsidiary is in accordance with Regulation 21(b) of the SEBI (Mutual Funds) Regulations, 2026.

Wealthwave Capital Trust is registered as a Category II AIF with SEBI under Registration No. IN/AIF2/24-25/1736. The operations will commence once Choice AMC Private Limited fulfills the conditions stipulated in the NOC. The business will be conducted in accordance with the SEBI (Alternative Investment Funds) Regulations 2012, the SEBI (Mutual Funds) Regulations, 2026, and other applicable laws.

Key Details of the Approval

The company stated that this milestone reflects its commitment to delivering innovative financial solutions and creating sustainable, long-term value for its stakeholders. The filing was submitted to the BSE Limited and NSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Choice International announced that its material subsidiary, Choice Equity Broking Private Limited (CEBPL), has entered into definitive agreements with NH Investment & Securities Co., Ltd. for a strategic investment of ₹8,99,99,95,500. The transaction involves the issuance of Compulsorily Convertible Preference Shares (CCPS) to strengthen CEBPL's capital base and support its expansion in the broking and distribution sectors. The investment is subject to requisite statutory approvals, including those from exchanges where CEBPL is a member broker.

Transaction Details

Under the Share Subscription Agreement and Shareholders’ Agreement signed on July 09, 2026, NH Investment & Securities will subscribe to 42,25,350 CCPS at a price of ₹2,130 per share. This price comprises a face value of ₹10 and a securities premium of ₹2,120. The equity shares arising from the conversion of these CCPS will rank pari passu with existing equity shares, and the issuance will not result in any change of control of CEBPL. The transaction is expected to be completed within 12 months from the execution date.

Key Transaction Metrics

Strategic Impact

The infusion of capital is intended to strengthen CEBPL's financial position and provide resources for growth and strategic opportunities. By partnering with NH Investment & Securities, a core subsidiary of NH Financial Group headquartered in Seoul, CEBPL aims to leverage global institutional expertise to enhance its capabilities in research, capital markets, and risk management. The investor is not related to the promoter group of Choice International.