5paisa Capital Ltd., a 100% subsidiary of IIFL Holdings Ltd., yesterday became India’s first listed financial marketplace debuting on the BSE and the NSE. 5paisa debuted on the capital markets with the traditional sounding of the gong in a ceremony held at the NSE yesterday.
The company charges its customers zero brokerage and a flat fee of just Rs 10 per trade for any size of trade in stock trading – 98 per cent lesser than its competitors
Online Broker, 5paisa.com, is likely to list on exchanges soon having filed its papers with markets regulator Securities and Exchange Board of India (Sebi).
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.