Choice International Ltd

The transcript provided does not explicitly mention any current or future plans for fundraising through debt or equity. However, some relevant points include: - The investment banking business has 37 active mandates and a tentative fundraising pipeline of INR 9,700 crores, indicating deal flow momentum and potential equity/debt transactions in the market. - No direct commentary on Choice International Limited's own fundraising plans via debt or equity was provided. - The management emphasizes maintaining strong asset quality and prudent underwriting in the NBFC segment, with no mention of new debt raising. - Growth targets are planned to be met through existing business expansion and organic scaling rather than new capital raising announcements. Hence, based on the available transcript, there is no specific disclosure of upcoming equity or debt fundraising by Choice International Limited.

- No major capex planned on the technology side for FY26; focus is primarily on operating expenses (opex) related to tech. - Branch expansion capex is minimal, with an average cost of INR 3-5 lakh per new branch, which is not significant. - In Q3 FY26, total expenses including capex for the broking business were around INR 10 crores. - Strategic investments include acquisitions like Ayoleeza Consultants to expand geographical reach and strengthen credentials in infrastructure consulting. - The operational debut of Choice AMC with the first Gold ETF marks a strategic milestone towards building a full-stack financial services platform. - Partnerships like that with India Post Payments Bank open large distribution channels aimed at scaling client acquisition in semi-urban and rural markets. - Building a digital client acquisition team and enhancing product offerings (e.g., credit, dedicated F&O sections) to increase customer lifetime value (LTV).

- Choice International Limited expects to maintain double-digit revenue growth, targeting 20%-25% growth rates over the next couple of years. (Page 8) - Insurance distribution business is also projected to grow at around 25% revenue growth, supported by expansion into both corporate and retail segments. (Page 8) - Broking, advisory, and NBFC businesses have delivered a historical revenue CAGR of approximately 50.53%, with management confident in sustaining similar growth levels in the near term. (Page 7) - MTF (margin trading finance) book aims to grow aggressively over the next financial year with robust risk management systems in place. (Page 6) - Expansion in client acquisition expected through physical branch network expansion and an enhanced digital client acquisition team. (Page 8) - Growth is also supported by deeper penetration in Tier 2 and Tier 3 cities, leveraging a large distribution network including the India Post Payments Bank partnership for wider reach. (Pages 3, 8)

- Expectation to maintain double-digit revenue growth of 20%-25% over the next couple of years (Page 8). - EBITDA margins are expected to be sustained and even expand further as revenue grows, due to stable operating costs relative to revenue growth (Page 5). - Profit after tax (PAT) showed strong YoY growth of 114% this quarter and 56% for 9M FY26; management optimism suggests continued strong PAT growth (Page 4). - Broking and distribution, NBFC, advisory, and insurance segments all expected to contribute to steady revenue and profit growth (Pages 4-8). - Temporary impacts like credit card integration glitch and client onboarding slowdown expected to normalize in Q4 FY26 (Page 9). - Focus on technological innovation, deeper market penetration, and expanding financial ecosystem anticipated to drive sustainable long-term earnings growth (Pages 3-9).

- The advisory segment has a healthy order book of INR 748 crores as of Q3 FY26. - This order book provides revenue visibility for the next 24 to 36 months. - With the recent acquisition of Ayoleeza Consultants, Choice International expects to expand into new geographies and increase orders from more states. - The acquisition is anticipated to add to the overall order book and revenue by leveraging Ayoleeza's credentials with various governments.