Latest news with #ArunPoddar
&w=3840&q=100)
Business Standard
01-08-2025
- Business
- Business Standard
Choice AMC gets Sebi nod to launch mutual fund operations with ETFs
Regulatory clearance enables the Mumbai-headquartered Choice group to formally roll out its mutual fund operations, expand its offerings across the financial services spectrum, company statement said Press Trust of India New Delhi Financial services company Choice International on Friday said its arm Choice AMC has received final approval from Sebi to commence operations as an Asset Management Company (AMC), marking its foray into the mutual fund business. The regulatory clearance enables the Mumbai-headquartered Choice group to formally roll out its mutual fund operations, expand its offerings across the financial services spectrum, the company said in a statement. Choice will now initiate operations of its AMC, with a strategic and phased rollout beginning with passive investment products such as index funds and exchange traded funds (ETFs), it added. "This approval marks a significant milestone in the expansion of our financial services portfolio and reinforces our long-term commitment to delivering comprehensive and accessible investment solutions. "The mutual fund platform will initially focus on passive products, in line with our objective to build a stable, scalable, and professionally managed asset management business under a strong regulatory and governance framework," Choice International's CEO Arun Poddar said. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Economic Times
01-08-2025
- Business
- Economic Times
Choice AMC receives SEBI license to commence mutual fund business
Synopsis Choice AMC Private, a subsidiary of Choice International, has secured SEBI's final approval to operate as an asset management company for Choice Mutual Fund. This allows Choice Group to enter the investment management sector, expanding its financial services. iStock Choice AMC Private has received final approval from SEBI to act as asset management company for the Choice Mutual Fund. Choice AMC Private, a wholly owned subsidiary of Choice International, has received final approval from the Securities and Exchange Board of India (SEBI) to act as asset management company for the Choice Mutual Fund. This milestone paves the way for the Group's formal entry into the investment management space, expanding its offerings across the financial services spectrum, according to a press release. Also Read | International mutual funds beat domestic funds with up to 10% returns in July. What should mutual fund investors do now? With this regulatory greenlight, Choice will now initiate operations of its Asset Management Company, with a strategic and phased rollout beginning with passive investment products such as Index Funds and Exchange Traded Funds (ETFs). 'This approval marks a significant milestone in the expansion of our financial services portfolio and reinforces our long-term commitment to delivering comprehensive and accessible investment solutions. The mutual fund platform will initially focus on passive products, in line with our objective to build a stable, scalable, and professionally managed asset management business under a strong regulatory and governance framework,' said Arun Poddar, CEO of Choice International Ltd. Backed by its Pan-India presence, strong governance framework, and technology-led distribution capabilities, Choice Mutual Fund aims to bridge the gap between traditional financial advice and modern investment products. The company intends to serve retail, emerging affluent, and institutional segments through accessible products that deliver long-term value. This represents a natural progression in Choice's long-term strategy to empower investors with a broader, more modern set of tools to achieve their financial goals—be it through goal-based investing, SIPs, or broad-market index passive investing gains traction globally and in India, Choice Mutual Fund's entry reinforces the Group's vision of democratizing access to quality financial products and building a future-ready investment ecosystem. Also Read | Wealth creators: 12 equity mutual funds turn Rs 10,000 SIP to over Rs 10 crore since their inception Headquartered in Mumbai, Choice Group is a decade-old, diversified conglomerate offering services across finance, engineering, and consulting domains.
&w=3840&q=100)
Business Standard
05-06-2025
- Business
- Business Standard
Choice Int'l arm secures Rs 63.47 cr govt projects in Maharashtra, Odisha
Choice Consultancy Services, an arm of Choice International, on Thursday said it has secured project management contracts worth Rs 63.47 crore across Maharashtra and Odisha. The company has been awarded a Rs 52.80 crore work order from the Maharashtra Institution for Transformation (MITRA) under the World Bank-backed MahaSTRIDE programme to set up District Strategic Units in Chhatrapati Sambhajinagar Division, the company said in a statement. In Odisha, the firm emerged as the top-ranked bidder for a Rs 10.67 crore project floated by the State Urban Development Agency to provide engineering consultancy in 58 urban local bodies, it added. "These project wins further validate our strategic direction and reinforce our positioning as a trusted execution partner in high-value public sector initiatives," Choice International's CEO and Executive Director, Arun Poddar, said.
Business Standard
05-06-2025
- Business
- Business Standard
Choice Intl's arm bags Rs 63.43 cr projects from Maharashtra and Odisha Governments
Choice International announced that its wholly owned subsidiary, Choice Consultancy Services, has secured two significant project development contracts worth approximately Rs 63.47 crore (inclusive of GST). The projects have been awarded by the State Governments of Maharashtra and Odisha. These contracts mark a significant step in expanding the company's footprint in the public sector transformation and infrastructure planning sectors across India. The company has been awarded a prestigious work order worth Rs 52.80 crores by the Maharashtra Institution for Transformation (MITRA), part of the Government of Maharashtra. This assignment is a crucial part of the World Bank-supported MahaSTRIDE Program aimed at enhancing institutional capabilities at the district level across the Chhatrapati Sambhajinagar Division. The engagement spans a period of five years and focuses on driving data-backed, growth-oriented decision-making. The project is aligned with Indias vision of a $5 trillion economy and Maharashtras goal of achieving a $1 trillion economy. The District Strategic Units (DSUs) established under this initiative will play a pivotal role in supporting these economic goals. Additionally, Choice Consultancy Services has emerged as the H1 (highest-ranked) bidder for the project titled Providing Engineering Consultancy Services in 58 Urban Local Bodies of Odisha State. The project, floated by the State Urban Development Agency (SUDA) under the Housing and Urban Development Department, Government of Odisha, aims to enhance urban infrastructure planning and technical capacity to manage rapid urbanization across the state. With a proposed value of Rs 10.67 crores, this engagement is expected to span two years, pending the final confirmation of the work order. The companys involvement in these initiatives directly aligns with the Government of Indias vision to modernize institutions, expand digital access, and promote inclusive economic growth. By contributing to these transformative programs, the company solidifies its position as a trusted partner in executing high-impact public development strategies across the nation, it added. Arun Poddar, CEO of Choice International, said: "We are proud to deepen our engagement with public sector partners through these important assignments. Our commitment to advancing Institutional capabilities and urban infrastructure is unwavering, and we remain focused on delivering impact-driven, technology-enabled solutions that empower communities and contribute to Indias long-term growth. These project wins further validate our strategic direction and reinforce our positioning as a trusted execution partner in high-value public sector initiatives." Headquartered in Mumbai, Choice Group is a decade old organization, engaged in providing diversified services on finance, engineering and consulting activities. It has its membership and registration with SEBI, RBI, NSE, BSE, MCX, NCDEX, AMFI and depository participant with CDSL & NSDL. The companys consolidated net profit jumped 35.85% to Rs 53.51 crore on 17.93% increase in revenue from operations to Rs 253 crore in Q4 FY25 over Q4 FY24. The scrip shed 0.11% to Rs 7.05.10 on the BSE.
Business Upturn
05-06-2025
- Business
- Business Upturn
Choice International secures public sector projects worth Rs 63.47 crore in Maharashtra and Odisha
By Aditya Bhagchandani Published on June 5, 2025, 10:02 IST Choice International Limited's subsidiary, Choice Consultancy Services, has secured two major public sector mandates with a combined estimated value of ₹63.47 crore (inclusive of GST). These wins mark a significant step in the company's public sector engagement strategy. The first project, valued at ₹52.80 crore, has been awarded by the Maharashtra Institution for Transformation (MITRA) under the World Bank-supported MahaSTRIDE program. It involves setting up District Strategic Units in the Chhatrapati Sambhajinagar Division to support data-driven decision-making and institutional growth over a five-year period. The second project win is in Odisha, where Choice emerged as the top-ranked bidder for engineering consultancy services across 58 urban local bodies. The ₹10.67 crore engagement, initiated by SUDA under the Housing and Urban Development Department, focuses on improving urban infrastructure planning over two years. CEO Arun Poddar emphasized the strategic importance of these contracts, aligning with India's digital and institutional modernization goals. Choice's involvement in these initiatives underlines its role in high-value public development execution. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
