IIFL holdings to list 5paisa.com
By Yogesh Supekar |
11/2/2016 10:48 AM Wednesday
5paisa.com could well be making history of sorts while it plans to gets listed on bourses within 3 -4 months. 5paisa.com is a unit of IIFL group , involved in the business of online broking.
Once listed, the online broking company will be the first company in the category to get listed. Canada-based billionnaire, Prem Watsa holds 31 per cent in the financial services company and is believed to be in favour of hiving off the 5paisa.com entity.
The online trading company offers trading,investment and insurance products across India. For the shareholders of IIFL, as per media reports, can expect to get 1 share of Rs 10 each of 5paisa for every 25 IIFL shares held.Discount brokers like Zerodha, RKSV, Samco securities and SAS Online are some of the competitors for 5paisa.com.
IIFL stock has been buzzing on bourses lately with the stock gaining by almost 60 per cent on a one year basis. In one month alone the stock is up by almost 10 per cent. Currently trading at Rs 310 per share the stock is down by almost Rs 5.75 per share or 1.82 per cent on an intraday basis on Wednesday.
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