Sharekhan.com, an early mover in online share broking has been acquired by French bank BNP Paribas. While the deal size was not disclosed, the company has been valued at about Rs. 2,200 crore. Sharekhan offers broking solutions across all asset classes to more than 1.2 million private clients and has a 7 per cent market share. Sharekhan will join BNP Paribas’ Personal Investors division, a key player in retail brokerage and digital banking services with 1.7 million clients in Europe. Sharekhan will serve as a platform for the group’s strategy in India to offer a comprehensive range of products from pure brokerage to asset-based investment services, including mutual funds and savings products. All staff and clients at Sharekhan will be absorbed into BNP Paribas. The transaction is subject to regulatory approvals.
Earlier, BNP Paribas had acquired a 34.5 per cent stake in the Kochi-based Geojit Financial Services Ltd.