European banking major BNP Paribas will buy domestic online retail broking major Sharekhan for an undisclosed sum of money, although market players said the allcash deal was valued at about Rs 2,200 crore.
BNP Paribas’ second major investment
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 Paribas Financial Services is about 7.5 lakh.
