Let’s have a detailed review of the company and analytics of the Choice International Rights Issue offer open date, Term of payment, Choice International Limited Rights Issue Entitlement, and other details like the company’s background, its financial positions, its promoters, and other related things.

Face ValueRs 10
Issue PriceRs [●]
Listing AtBSE
Min. Lot Size[●] Eq Shares
Record Date[●]
Issue Size (Rs.)Rs 6,000 Lakhs
Shares for Issue[●] Eq Shares
Rights entitlementUpto [●] Equity Share for every [●] fully paid-up Equity
Share(s) held on the Record Date

Choice International Rights Issue is listed at BSE. Check out the live share price by clicking on the below link.


Choice International Rights Issue – Summary

Choice International Rights IssueTheir Company was incorporated as “Choice Financial Services Limited” on March 12, 1993, as a public limited company under the Companies Act, 1956 with the Registrar of Companies, Mumbai, Maharashtra, and consequently a certificate of commencement of business dated March 13, 1993, was issued to their Company.

Subsequently, the name of their Company was changed to ‘‘Choice International Limited”, and a fresh certificate of incorporation dated November 12, 1997, consequent to such name change was issued to their Company by the Registrar of Companies, Mumbai, Maharashtra.

The Promoter of this company is KAMAL PODDAR, ARUN KUMAR PODDAR, SONU PODDAR, VINITA SUNIL PATODIA, ARCHANA ANIL PATODIA, SUNIL KUMAR PATODIA, ANIL C PATODIA, HEMLATA KAMAL PODDAR, AASTHA ANIL PATODIA, AAYUSH ANIL PATODIA, ANIL CHOTHMAL PATODIA HUF, SUNIL CHOTHMAL PATODIA HUF, SUYASH SUNIL PATODIA, ARUN KUMAR PODDAR HUF, KAMAL PODDAR HUF, SHREYA PATODIA, SHREE SHAKAMBHARI EXIMS PRIVATE LIMITED. The lead manager to the issue is SAFFRON CAPITAL ADVISORS PRIVATE LIMITED, and the Registrar to this issue is Cameo Corporate Services Limited.


Choice International Rights Issue Date

The opening and the closing date of the IPO of Choice International Limited are [●] and [●] respectively.


Choice International Rights Issue Allotment Status

Here, you can find the Allotment Status of this Right Issue.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.

Choice International Rights Issue Dates

Find the dates below on basis of allotment, record, listing, and more:

Issue Opening Date
[●]
Last date for on-market renunciation of rights / Date of closure of trading of Rights Entitlements[●]
Issue Closing Date[●]
Finalizing the basis of allotment with the Designated Stock Exchange[●]
Record date[●]
Date of Allotment[●]
Credit of Shares to Demat Account[●]
Share Listing Date[●]

Choice International Rights Issue Price

The face value of each share is Rs.10, but the Cash Price is Rs.[●] per Eq share. 


Choice International Rights Issue Equity Size

This Initial Public Issue of [●] Equity Shares of Rs.10 each for cash at a price of Rs.[●] per equity share aggregating to Rs 6,000 Lakhs.


Choice International Rights Issue – Live Performance

The listing date of this IPO is [●]. You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Choice International Share Price

Choice International Rights Issue – Company Overview

They were registered as a Non – Deposit taking Non – Banking Financial Company (NBFC) registered with the RBI. They voluntarily surrendered their NBFC license in the year 2019 and the same was canceled by RBI with effect from October 23, 2020.

On cancellation of their NBFC license, they stand only as a ‘holding company’ to their subsidiaries & provide business support services to their group companies and subsidiaries. Their Company, through its multiple subsidiaries, offers financial services across all platforms catering to retail and institutional clients, corporates, and state and central governments.

The services are bifurcated into Retail services (B2C) and Institutional Services (B2B & B2G). The B2C services include Equity & commodity broking, Wealth Services, and NBFC Services. The B2B services comprise Management consulting, Investment Banking, and government services like Infrastructure Consulting and Government Advisory.

They work under the guidance of their Managing Director, Kamal Poddar, who has experience of more than 15 Years in the Financial Service Industry and has been associated with their Company since 2008 and is one of their founding members. He has been instrumental in evolving their business operations, growth, and future prospects.


Choice International Rights Issue – Financial Statements

A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Lakhs)
31-Mar-2131-Mar-2031-Mar-19
Total Assets
*Total Revenue17,581.5813,421.8812,131.21
Total Expense15,300.0311,601.5210,905.29
Profit After Tax1,671.001,243.11880.85

Earnings per Equity Share (in Lakhs)

31-Mar-2131-Mar-2031-Mar-19
Basic7.786.214.40
Diluted7.786.214.40

 

Financial Performance:

Their revenue from operations for Fiscal 2021 was Rs 16874.35 lacs as compared to Rs 12882.00 lacs for Fiscal 2020, representing an increase of 30.99%. This is primarily due to an increase in no of clients and business activities in the NBFC, Broking, and Consulting segment.

Other income for Fiscal 2021 was Rs 707.23 lacs as compared to Rs 539.88 lacs for Fiscal 2020, representing an increase of 31.00%. The increase in other income was primarily due to an increase in interest income from bank FDR, Broking clients.

As a result of the aforesaid, Their Company earned a profit for the year on a basis for Fiscal 2021 of Rs 1671.00 lacs as compared to Rs 1243.11 lacs for Fiscal 2020, representing an increase of 34.42%. The increase was due to an increase in business activities in NBFC and Broking segment.


Choice International Rights Issue – Promoters

The Promoters of this company are:

  1. KAMAL PODDAR
  2. ARUN KUMAR PODDAR
  3. SONU PODDAR
  4. VINITA SUNIL PATODIA
  5. ARCHANA ANIL PATODIA
  6. SUNIL KUMAR PATODIA
  7. ANIL C PATODIA
  8. HEMLATA KAMAL PODDAR
  9. AASTHA ANIL PATODIA
  10. AAYUSH ANIL PATODIA
  11. ANIL CHOTHMAL PATODIA HUF
  12. SUNIL CHOTHMAL PATODIA HUF
  13. SUYASH SUNIL PATODIA
  14. ARUN KUMAR PODDAR HUF
  15. KAMAL PODDAR HUF
  16. SHREYA PATODIA
  17. SHREE SHAKAMBHARI EXIMS PRIVATE LIMITED

List of Related Parties (Key Managerial Personnel)

  • Sunil Kumar Patodia, Non-Executive – Non Independent Chairman
  • Kamal Poddar, Managing Director, Executive Director
  • Hemlata Poddar, Non-Executive Non Independent Director
  • Ajay Rajendra Kejriwal, Executive Director
  • Kanhaiya Lal Berwal, Non-Executive Independent Director
  • Ashok Kumar Thakur, Non-Executive Independent Director

Choice International Rights Issue Details

 ParticularsDetails of Equity Shares
Equity Shares proposed to be issuedUpto [●] Equity Shares
Rights EntitlementUpto [●] Equity Share for every [●] fully paid-up Equity
Share(s) held on the Record Date
Record Date[●]
Issue Price per Rights Equity SharesRs.[●]
Issue SizeUpto Rs [●] Equity Shares of the face value of Rs 10 each for cash at a
price of Rs [●] (Including a premium of Rs [●]) per Rights Equity
Share not exceeding an amount of Rs 6,000 lakhs.
Equity Shares issued, subscribed, and paid-up prior to the Issue3,98,04,800 Equity Shares
Equity Shares subscribed and paid-up after the IssueUp to [●] Equity Shares

Choice International Rights Issue Object

Their Company proposes to utilize the Net Proceeds towards funding the following objects:

1. Investment in their material Subsidiary, Choice Finserv Private Limited for augmentation of funding requirements for its business activities.

Choice Rights Issue – Business Strategy

  • Maintain and Expand Long-term Relationships with Clients
  • Augmentation of funding requirements for their subsidiary
  • Leveraging off their Marketing Skills and Relationships
  • Continue to focus on cost efficiency and improving productivity

Choice International Rights Issue Lead Managers

Lead Managers
SAFFRON CAPITAL ADVISORS PRIVATE LIMITED
605, Center Point, 6th floor,
Andheri Kurla Road, J. B. Nagar,
Andheri (East), Mumbai – 400 059,
Maharashtra, India.
Telephone: +91 22 4082 0914/915
Facsimile: +91 22 4082 0999
E-mail: rights.issue@saffronadvisor.com
Website: www.saffronadvisor.com
Investor grievance: investorgrievance@saffronadvisor.com
Contact Person: Amit Wagle / Gaurav Khandelwal
SEBI Registration Number: INM 000011211
Validity of Registration: Permanent

Choice Rights Issue Registrar to offer

Registrar to the Offer
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building,
No. 01, Club House Road,
Chennai- 600 002,
Tamil Nadu, India.
Telephone: +91044 4002 0700/ 0710/ 2846 0390
Facsimile: N.A.
Email: cameo@cameoindia.com
Website: www.cameoindia.com
Investor grievance e-mail: investor@cameoindia.com
Contact Person: Sreepriya K.
SEBI Registration No.: INR000003753
Validity of Registration: Permanent

Choice Rights Issue – Other Details

  • Statutory Auditor – Deloitte Haskins & Sells LLP
  • Legal Counsel to the Company – Mindspright Legal
  • Bankers to the Company – NA


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    Choice International Limited Rights Issue News

    News 1 – Choice International Rights Issue Draft Download

    News 2 –  Choice International Rights Issue Letter of Offer


    Choice International Rights Issue Review FAQs

    Where to download the Choice International Rights Issue letter of offer?

    This page is the perfect hub for shareholders, which wish to pursue the option of buying additional Choice International Company shares. You will find a news section towards the end of the page, and the link which would redirect you to the letter of offer.

    Where to download the Application Form for Choice International Rights Issue?

    Application forms of Choice International Rights Issue can be obtained via multiple destinations. You can seek out the exchange or company or the registrar’s official websites. Furthermore, you may download the form, fill it up, and then choose either online or offline mode to submit it.

    How to check Choice Rights Issue allotment date?

    They are highly oriented to provide you with end-to-end details of the Choice International Rights Issue. Hence, they urge you to check out the page precisely for the allotment date. They will find a sub-section on the page, namely Rights Issue Dates, which features all necessary dates.

    What is the Choice Rights Issue price per share?

    The rights issue is generally an offer made to shareholders at a price lower than the market price. Hence, as per the offer made in the Letter of Offer, the company proposes to sell shares at Rs.NA per Equity Share through Choice International Rights Issue.

    Who is the registrar to Choice Rights Issue?

    Registrar, as chosen by Choice International is Cameo Corporate Services Limited. You can refer to this article which furthermore contains all the details of the registrar. Scroll towards the end of the page to find the registrar’s address, contact person, and email id information.

    When the Choice Rights Issue is opening?

    They collected all the scattered data from the Letter of Offer for their readers, to make it easy for them to easily locate the required details. As per the offer stated, the Choice International Rights Issue is all set to open on NA.

    When the Choice International Rights Issue is closing?

    While, the offer would open on NA, it is most likely scheduled to close on NA. This would be the last day you can bid for the shares, being an eligible shareholder. Check the article for more insights on the Choice International Rights Issue.

    What is the Choice International Rights Issue size?

    Choice International Rights Issue is a proposal to raise NA Equity shares, aggregating to Rs 6,000 Lakhs, from the existing shareholders. You can furthermore refer to the topmost table of this article to check out other crucial statistics such as Minimum Lot size, record date, RE, Face value, and more.

    Who is the Choice Rights Issue Lead manager?

    A designated underwriter or lead manager of Choice International Rights Issue is SAFFRON CAPITAL ADVISORS PRIVATE LIMITED. They also provide you with the information you need about the lead manager, such as an address, contact person, email address, and more. Such data is structured towards the end of the article.

    What are the important dates of the Choice Rights Issue?

    There are a bunch of important dates regarding the Choice International Rights Issue, which you need to know about. The priority should be the Record Date of [●], which deems you eligible for investment. The rest of the dates include opening, closing, allotment, listing, and more, which are all provided in the section Rights Issue Dates.


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