BNP Paribas completes acquisition of stake in Geojit
At the meeting of the committee of the board of directors of Geojit Financial Services held on January 23; 1.39 crore shares were allotted to BNP Paribas S.A. as a consequence to the exercise of warrants issued to the Bank in March 2007 when the B...
By ET Bureau |
MUMBAI: At the meeting of the committee of the board of directors of Geojit Financial Services held on January 23; 1.39 crore shares were allotted to BNP Paribas S.A. as a consequence to the exercise of warrants issued to the Bank in March 2007 when the Bank had initially taken a 27.18 per cent stake in Geojit Financial Services.
The tender period of the mandatory open offer closed on January 10, pursuant to which BNP Paribas S.A. has conveyed acceptance for 59.73 lakh shares.
Consequent to the initial allotment of 5.68 crore shares, acquisition of shares in the open offer and conversion of warrants, BNP Paribas' stake in Geojit has gone up to 34.33 per cent. Three members from BNP Paribas will shortly join the Board of Geojit.
The tender period of the mandatory open offer closed on January 10, pursuant to which BNP Paribas S.A. has conveyed acceptance for 59.73 lakh shares.
Consequent to the initial allotment of 5.68 crore shares, acquisition of shares in the open offer and conversion of warrants, BNP Paribas' stake in Geojit has gone up to 34.33 per cent. Three members from BNP Paribas will shortly join the Board of Geojit.
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