BNP Paribas Shifts Investments in Zomato and Nykaa

• BNP Paribas Financial Markets has strategically shifted its investments, acquiring a significant stake in Zomato while divesting shares in Nykaa.
• The bank purchased 6.24 million shares of Zomato at a slight discount, totaling INR 1,488 Cr.
• Simultaneously, BNP Paribas offloaded nearly 2.5 million shares of Nykaa, raising INR 503 Cr.
• These moves occur amidst Zomato's transition to an Indian-owned model and Nykaa's strong financial performance.
• Despite challenges in the foodtech sector, BNP Paribas is betting on Zomato's growth potential, showcasing a bold investment strategy.

Source: Inc42