BNP Paribas to buy Indian brokerage Sharekhan

Geojit Financial Services

30/07/2015 08:36

MUMBAI, July 30 (Reuters) - BNP Paribas SA  BNPP.PA  has 
agreed to buy Indian brokerage Sharekhan for an undisclosed sum 
as France's biggest bank looks to beef up its retail broking 
operations in India, taking advantage of a surge in retail 
investments into stocks. 
    "Sharekhan will serve as a platform for the Group's strategy 
in India to offer a comprehensive range of products," Joris 
Dierckx, country head of BNP Paribas, said in a statement. 
    Mumbai-based Sharekhan, which started operations in 2000, is 
one of the largest retail broking shops in India and serves 
about 1.2 million clients. 
 
 (Reporting by Himank Sharma; Editing by Subhranshu Sahu) 
 ((Himank.Sharma@thomsonreuters.com; http://twitter.com/@wolvhim; 
 +91 22 6180 7207; Reuters Messaging: 
himank.sharma.thomsonreuters.com@reuters.net)) 
 
Keywords: SHAREKHAN M&A/BNP PARIBAS