NCLT Approves Scheme of Amalgamation Between Choice International's Step-Down Subsidiaries

Choice International Limited has informed the stock exchanges that the National Company Law Tribunal (NCLT), Mumbai Bench, issued an order dated May 11, 2026, approving the Scheme of Amalgamation for the merger of its step-down subsidiary Choice Wealth Private Limited (CWPL) into Arete Capital Service Private Limited (ACSPL). Both entities are wholly owned subsidiaries of Choice Equity Broking Private Limited (CEBPL), which is the material subsidiary of Choice International Limited. The intimation was filed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on May 12, 2026.

About the Merging Entities

CWPL and ACSPL are both engaged in the distribution of mutual funds and other wealth products. The following table provides a snapshot of the key financial and structural details of the two entities involved in the amalgamation:

Parameter: Details Transferor Company: Choice Wealth Private Limited (CWPL) Transferee Company: Arete Capital Service Private Limited (ACSPL) Parent Entity: Choice Equity Broking Private Limited (CEBPL) Area of Business: Distribution of mutual funds and other Wealth Products CWPL Turnover (FY ended March 31, 2025): ₹661.90 Lakhs ACSPL Turnover (FY ended March 31, 2025): ₹1,341.17 Lakhs Share Exchange Ratio: 92 equity shares of ACSPL for every 100 equity shares of CWPL

Rationale for the Amalgamation

According to the disclosure, the amalgamation has resulted in operational synergies, cost efficiencies, optimal utilisation of resources, and improved overall profitability of the amalgamated entity. Both CWPL and ACSPL operated under the same management, and their activities and operations have now been consolidated into a single entity pursuant to the approved Scheme of Amalgamation.

Related Party and Shareholding Implications

Since both CWPL and ACSPL are wholly owned subsidiaries of CEBPL, the transaction constitutes a related party transaction. However, as per Regulation 23(5)(c) of the SEBI Listing Regulations, the provisions relating to related party transactions are not applicable to transactions entered into between two wholly owned subsidiaries. Additionally, since CWPL and ACSPL are step-down wholly owned subsidiaries of Choice International Limited, the amalgamation will not result in any change in the shareholding pattern of the listed entity.

Regulatory Filing

The disclosure was submitted by Karishma Shah, Company Secretary and Compliance Officer of Choice International Limited, in accordance with Regulation 30 of the SEBI Listing Regulations, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The information has also been made available on the company's official website.

Choice international Limited has released the official transcript of its earnings conference call for the fourth quarter and financial year 2026, providing stakeholders with detailed insights into the company's financial performance for the period ended March 31, 2026.

Regulatory Compliance and Documentation

The earnings call transcript was released under reference number CIL/CC/16/2026-2027, dated April 28, 2026. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 46 and other applicable regulations.

Parameter: Details Reference Number: CIL/CC/16/2026-2027 Call Date: April 24, 2026 Results Period: Q4 and FY26 ended March 31, 2026 Document Release: April 28, 2026

Financial Results Coverage

The earnings conference call covered the company's audited standalone and consolidated financial results for both the quarter and full financial year ended March 31, 2026. The call was conducted on Friday, April 24, 2026, following the company's earlier communication dated April 20, 2026.

Accessibility and Transparency

Choice International Limited has ensured transparency by making the earnings call transcript accessible to all stakeholders. The complete transcript has been hosted on the company's official website, allowing investors and analysts to review the detailed discussions and management commentary.

Corporate Governance

The transcript release was authorized by Karishma Shah, Company Secretary and Compliance Officer, demonstrating the company's commitment to regulatory compliance and corporate governance standards. The document was digitally signed and authenticated as per standard corporate procedures.

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