Geojit BNP Paribas to change name to Geojit Financial Services
Geojit BNP Paribas Financial Services gets all in-principle approvals to change its name to Geojit Financial Services
Mumbai: Geojit BNP Paribas Financial Services Ltd, has got all in-principle approvals to change its name to Geojit Financial Services Ltd, and will formally change the name soon, the head of the financial services firm said on Wednesday.
“We have taken all the required in-principle approvals for the change. So, probably in a few days’ time, we will change to Geojit Financial Services Ltd,” C.J.George, managing director of Geojit BNP Pairbas Financial Services Ltd, said in a phone interview.
On 5 January, French Bank BNP Paribas SA had said it will continue holding its stake in Geojit BNP Paribas Financial Services Ltd, even after its acquisition of retail-focused brokerage Sharekhan, though it had withdrawn from the board of the former.
As of 31 December, BNP Paribas SA held a 32.59% stake in Geojit BNP Paribas Financial Services Ltd, while BNP Paribas India Holding Pvt. Ltd held 0.8% stake, data from BSE showed.
In July 2015, the French bank had said it had agreed to acquire Sharekhan after nearly six months of negotiations between existing investors and bidders, including bulge bracket private equity (PE) firms Warburg Pincus Llc and General Atlantic Llc, which bid together.
Editor's Picks »
- Future Retail’s Q2 result shows improvement in same-store sales
- Private insurance firms grow at the expense of LIC stuck with a sick bank
- Page Industries’s lofty valuations get a reality check in Q2
- Q2 results: Grasim’s Vodafone Idea stake is proving costly
- How Vodafone Idea’s $3.5 bn fundraising will impact telecom in India