5Paisa Capital Ltd

5Paisa Capital Ltd

5Paise Capital Ltd (5PCL) was originally incorporated on July 10 2007 as a public limited company under the provisions of the CA 1956 as India Infoline Finance Holdings Limited with the ROC. The Company obtained the certificate for commencement of business on July 19 2007 from the ROC. The name of our Company was subsequently changed to IIFL Capital Limited and a fresh certificate of incorporation consequent upon change of name was issued by the ROC on November 06 2007. Thereafter the name of our Company was changed to 5paisa Capital Limited and a fresh certificate of incorporation consequent upon change of name was issued by Registrar of Companies Tamil Nadu at Chennai on August 12 2015. The company a wholly owned Subsidiary of IIFL Holdings Ltd is engaged in providing an online technology platform for trading in National Stock Exchange of India & BSE Ltd through web based trading terminal mobile application and a state of the art Call and Trade Unit. 5PCL is also a SEBi approved Research analyst a Depository Participant under CDSL and registered member of AMFI. 5PCL provides a wide range of financial services to its customers including depository services distribution Of mutual funds bonds and debentures Equity and Mutual fund research etc through its technology based platforms.On Sept 30 2016 the Board of Directors of 5paisa Capital Limited approved a draft Scheme of Arrangement under Section 391-394 Of the Companies Act 1956 with IIHFL Holdings Limited ['IIFLH'] and their respective shareholders to demerge 5palsa digital undertaking of IIFLH into 5PCL. As per the proposed Scheme the consideration for the proposed demerger is through issue and allotment of i equity Share of Rs 10/- each fully paid up of 5PCL for every 25 equity shares of IIFLH held by the shareholders of IIFLH. The appointed date for the proposed demerger Scheme is October 02 2016. The Scheme would be effective upon receipt of all requisite regulatory approvals and filing of the certified copies of the final order of National Company Law Tribunal (NCLT) with the Registrar of Companies. 'No Objection' has been received from SEBI BSE and NSE on the draft Scheme of Arrangement and the same has been filed with NCLT by SPCL and IIFHL.