Prakarsh Gagdani, Chief Executive Officer of IIFL Group subsidiary 5paisa Capital, said in an interview to Moneycontrol that he is optimistic about the market in Samvat 2074 and sees the Nifty giving returns of 15-17 percent in the next one year.
Mumbai, Mar 5 (PTI) The IIFL-backed 5paisa Capital Ltd, one of the leading online financial services provider, has said it is set to list shares on bourses in next 3-4 months.
"We plan to become the first discount brokerage firm to be listed on Indian bourses. IIFL Holdings decided to hive off 5paisa.com and has already approached exchanges to demerge 5paisa Capital and list it on the exchange after completing the formalities in the next 3-4 months period," 5paisa Capital CEO Prakarsh Gagdani told PTI here.
concept of discount broking gaining popularity these days,this concept of discount broking in India fetched from US , as this discount broking concept received huge success in US. Online financial service Provider 5paisa.com estimated that in coming 3 year discount broking firm will contribute 30%-40% of total Retail Turnover