Global banking major BNP Paribas has completed the stake acquisition in Geojit Financial Services, following an open offer and conversion of warrants into equity.
Earlier on January 23, 1.39 crore shares were allotted to BNP Paribas SA on warrants conversion. Besides, the bank had also made an open offer which closed on January 10 through which acceptance of 59.73 lakh shares were conveyed.
With the latest development BNP Paribas has hiked its stake in Geojit Financial Services to 34.33 % and it will soon appoint three members on the board of the company.