European banking major BNP Paribas will buy domestic online retail broking major Sharekhan for an undisclosed sum of money, although market players said the all-cash deal was valued at about Rs 2,200 crore.
Once the deal is completed, this will be the Paris-headquartered BNP Paribas' second major investment in the Indian broking space. It holds a 34% stake in Kochi-based Geojit BNP Paribas Financial Services. Sharekhan has about 12 lakh customers while the corresponding number for Geojit BNP ParibasFinancial Services is about 7.5 lakh.
Currently CVCI, the private equity arm of Rohatyn Group, holds 60% in the unlisted Sharekhan, while Baring Asia Private Equity owns 14%, IDFC 10% and Samara Capital 5%. The balance 11% is with the broking firm's employees. Earlier, there were reports that private equity majors Warburg Pincus and General Atlantic were joining hands to buy out the broking firm.
BNP acquires Sharekhan for Rs 2.2k crore - The Times of India
Once the deal is completed, this will be the Paris-headquartered BNP Paribas' second major investment in the Indian broking space. It holds a 34% stake in Kochi-based Geojit BNP Paribas Financial Services. Sharekhan has about 12 lakh customers while the corresponding number for Geojit BNP ParibasFinancial Services is about 7.5 lakh.
Currently CVCI, the private equity arm of Rohatyn Group, holds 60% in the unlisted Sharekhan, while Baring Asia Private Equity owns 14%, IDFC 10% and Samara Capital 5%. The balance 11% is with the broking firm's employees. Earlier, there were reports that private equity majors Warburg Pincus and General Atlantic were joining hands to buy out the broking firm.
BNP acquires Sharekhan for Rs 2.2k crore - The Times of India
