Sundaram Finance today said it will sell its entire stake in subsidiary BNP Paribas Sundaram Global Securities for a total consideration of Rs 44.29 crore.
The board at its meeting held today has approved the sale of the company’s 49 per cent shareholding in BNP Paribas Sundaram Global Securities Operations Private to BNP Paribas Securities Services, Sundaram Finance said in a BSE filing.
The deal is valued at Rs 44.29 crore, it said.
BNP Paribas Sundaram Global Securities Operations Pvt Ltd provides securities services and investment operations solutions to financial intermediaries, institutional investors.
The company offers treasury, cash management, foreign exchange, collateral management, and securities lending solutions.