IIFL discount broking arm 5Paisa lists

Discount broking firm 5Paisa Capital listed on Thursday following its demerger from parent IIFL Holdings. Shares of the company got locked in five per cent lower circuit both on the BSE and the National Stock Exchange (NSE). 

The stock closed at Rs 380 on the NSE and Rs 618 on the BSE, the huge price differential was on account separate price pre-open discovery systems used by both exchanges and imposition of narrow circuit filters. One share of 5Paisa were issued for 25 shares of IIFL Holdings.

The parent company has infused Rs 100 crore as fresh capital in the demerged entity.