Saturday, June 22, 2024
HomeMarket NewsBNP Paribas eyeing Sharekhan exit?

BNP Paribas eyeing Sharekhan exit?

Published on

Latest articles

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in Kotak General

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in...

Vodafone Idea shares zoom 14% today; key technical levels to watch out for

Vodafone Idea shares zoom 14% today; key technical levels to watch out for Vodafone Idea...

Nadeem Amin is the New President for Netstal Americas

Nadeem Amin is the New President for Netstal Americas Netstal appoints Nadeem Amin as its...

SCREEN Launches High-Density SU Ink For Uncoated Papers Used By Truepress JET 520HD Mono

SCREEN Launches High-Density SU Ink For Uncoated Papers Used By Truepress JET 520HD Mono It...


BNP Paribas, an European Bank, is looking to completely exit from the Mumbai-based full service retail brokerage firm Sharekhan, market sources said. 

Three homegrown financial services’ biggies and a Japanese as well as a Korean firm are understood to have evinced interest to buy the 100 percent stake of BNP Paribas in Sharekhan, they added. There are atleast five players in the fray, it is learnt. 

Sharekhan was one of the first movers in the country’s online broking segment. It is currently among the top ten retail brokerage houses in the country.

Exiting India?

A BNP Paribas spokesperson on Tuesday declined to comment on the businessline’s email query on the status of the planned exit transaction from Sharekhan. It is understood that BNP Paribas does not want to continue to do retail business in India and hence its decision to exit Sharekhan. 

It maybe recalled that BNP Paibas had in January 2018 announced that it had completed its acquisition of brokerage firm Sharekhan, a deal that was first announced in 2015. The deal finally brought in foreign investments of little over ₹ 2,000 crore.

Prior to Sharekhan, BNP already held a 34 per cent stake in Geojit Financial. This stake was, however, sold in 2018.





Source link

More like this

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in Kotak General

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in...

Vodafone Idea shares zoom 14% today; key technical levels to watch out for

Vodafone Idea shares zoom 14% today; key technical levels to watch out for Vodafone Idea...

Nadeem Amin is the New President for Netstal Americas

Nadeem Amin is the New President for Netstal Americas Netstal appoints Nadeem Amin as its...