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5Paisa Capital Surges After Promoter Increases Stake
The stock was locked in the upper circuit, higher by 5% over the previous day close at Rs. 206
After demerger from the 5Paisa Digital Undertaking into an independent company 5Paisa Capital last year, the shares of the online financial services company listed on the bourses on November 16, 2017. With the new entity in place, shareholders of IIFL were provided 1 share of 5Paisa Capital for 25 shares in the company.
The stock soon after listing made news as it was locked at 5% lower circuit due to significant price differential on the two exchanges.
The stock in trade today was locked in the upper circuit, higher by 5% over the previous day close at Rs. 206 on the NSE.
Meanwhile on the BSE, the scrip is locked with a lower circuit, down by 5% at Rs. 256.35
This has come after promoter Nirmal Jain increased his stake in the company by 1% through open market share purchase on the NSE at a price of Rs. 191.22 for a share.
Part of the IIFL group, the company caters into areas such as online broking and other financial services.
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