BSE – Bombay Stock Exchange

Live Stock Rates

Live Market Updates

5paisa plans to raise ₹250 crores through an equity issue, share raised by 20%

The company announced that it will raise Rs 250 crore by allotting shares and warrants on a preferential basis to institutional shareholders and promoters. According to reports, The investment will be made by Ward Ferry, Fairfax and RIMCO, along with the promoter group, which includes IIFL’s Nirmal Jain, Madhu Jain and R Venkataraman. Shares of 5paisa capital surged 20% in Thursday’s early deals to ₹350 per share on the NSE after the company’s announcement. The shares and warrants will be sold at Rs 500 per share, about 70% premium to Tuesday’s closing price of Rs 291.40.
5paisa.com had reported an income of Rs 144.7 crore for the first nine months of the financial year 2021, up 98% year-on-year. The company offers broking, mutual funds, insurance, peer-to-peer lending, international stocks, gold investing and margin funding as part of its product bouquet. It has discount broking companies in India with more than 1.3 million customers and 6.5 million mobile app users.

Leave a Reply

Your email address will not be published. Required fields are marked *