Geojit BNP Paribas Financial Services’ board has agreed to divest its entire stake in a joint venture (JV) company to BNP Paribas SA for Rs 40.50 crore. The company agreed to sell the stake held by unit Geojit Financial Management Services in BNP Paribas Securities India, which is in the institutional broking business. Its initial investment in the joint venture company was Rs 27.50 crore.
BNP Paribas Group will fully own BNP Paribas Securities India and continue to hold 33.5% of Geojit BNP Paribas Financial Services.
Geojit BNP Paribas Financial Services offers wide range of investment options in equity, futures and options, IPOs and mutual funds. The company offers clients daily SMS alerts, market pointers, periodical research reports, stock recommendations and customer meets organized frequently. It also has online services named Classroom for new investors providing basic information about all investment avenues.
| Company Name | CMP |
|---|---|
| Motilal Oswal Fin | 807.05 |
| Angel One | 327.00 |
| IIFL Capital Service | 325.30 |
| Nuvama Wealth | 1375.90 |
| Share India Sec. | 150.55 |
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