Shares of 5paisa Capital, an online financial services provider, will be listed on the bourses on Thursday. Last year, IIFL Holdings demerged 5paisa Digital Undertaking from the company into 5paisa Capital. Shareholders of IIFL had received one share of 5paisa for every 25 held in the company.
5paisa Capital Locked in lower circuit on Debut
5paisa.com, a unit of IIFL Group which was among the early entrants into online broking, will soon make its debut on the bourses.The financial services company, in which Canada-based billionaire Prem Watsa holds 31%, has decided to hive off 5paisa.com and list it as the concept of trading shares, buying mutual funds and insurance products picks up across the country.
5paisa Capital, which runs 5paisa.com, became the first discount brokerage house in India to get listed on the bourses. On Thursday, 5 Paisa, part of the IndiaInfoline group, was listed on the NSE at Rs. 400 and closed 5% lower at Rs. 380.