5paisa Capital hits 5% lower circuit on listing

The stock locked in lower circuit of 5% at Rs 380 on the National Stock Exchange.

5paisa Capital, a part of the IIFL Group, was locked in lower circuit of 5% at Rs 380 on the National Stock Exchange (NSE) on first of its debut. The stock opened at Rs 400 on the NSE.

Till 10:05 AM; around 6,108 shares changed hands and there were pending sell orders for 10,907 shares on the NSE, the exchange data shows.

IIFL holdings hived off 5paisa Capital into a separate company. The 5Paisa Digital business undertaking of IIFL Holdings has been transferred to 5Paisa Capital and in consideration thereof 5Paisa Capital has issued to the shareholders of IIFL Holdings, 1 fully paid up equity share of 5Paisa Capital for every 25 fully paid up equity shares each held in IIFL Holdings.

5paisa Capital is one-stop shop catering to the needs of consumers of financial services by facilitating an efficient investment experience through its platform 5paisa.com. It is amongst the early entrants into online, discount broking space.