BNP Paribas Expands Investment Portfolio with Hero MotoCorp and IndusInd Bank Stakes
BNP Paribas acquired nearly 1% stake in Hero MotoCorp and over 1.36% in IndusInd Bank through significant market transactions, investing over Rs 1,800 crore in total. This strategic expansion involved purchasing equity shares from both companies, highlighting BNP Paribas' active engagement in the Indian financial market.
- Country:
- India
In a bold move to strengthen its foothold in the Indian market, financial services giant BNP Paribas acquired significant stakes in two prominent companies. On Monday, the company purchased close to 1% stake in the renowned two-wheeler manufacturer Hero MotoCorp for over Rs 1,035 crore through open market transactions.
BNP Paribas, through its financial markets affiliate, secured a total of 19.52 lakh equity shares of Hero MotoCorp. The average acquisition price was Rs 5,302.91 per share, according to the National Stock Exchange's bulk deal data. This move reflects BNP Paribas' intent to bolster its investment portfolio.
Simultaneously, in another strategic transaction, BNP Paribas acquired a 1.36% stake in IndusInd Bank by purchasing more than 1.06 crore shares for Rs 772 crore. Despite selling a minor portion shortly after, BNP's net stake in the bank signifies a robust investment strategy in India's private sector banking sphere.
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