The company clocked total income of Rs 140 crore in 9M FY21
The company clocked total income of Rs 140 crore in 9M FY21

5paisa Capital board approves fresh capital raise of Rs 250 crore

ANI | Updated: Apr 14, 2021 16:47 IST


Mumbai (Maharashtra) [India], Apr 14 (ANI): The board of directors at 5paisa Capital has approved capital raise of Rs 250.8 crore through a preferential issue of equity shares and warrants at Rs 500 per share which is a premium of over 70 per cent at the current price of Rs 292.
The online platform said the sale will be to a set of marquee investors and promoters besides the promoter group. The preferential issue is subject to shareholder and other necessary approvals.
Chief Executive Officer Prakarsh Gagdani said the investment from marquee investors and promoters is a strong vote of confidence on the company's business model.
The business has been witnessing rapid growth with total income of over Rs 140 crore for nine months of FY21, up 98 per cent year-on-year.
"In the midst of growing number of players, 5paisa has carved out a robust customer franchise of more than 13 lakh customers and 65 lakh mobile app users."

Gagdani said 5paisa Capital has grown product offering to customers over the years which currently include broking, mutual funds, insurance, peer-to-peer lending, international stocks, gold investing and margin funding.
"The availability of equity funds will help the company accelerate its investment in customer-centric technology and sustain the pace of growth.
IIFL Securities was the exclusive financial advisor to the company for the transaction.
5paisa Capital is registered with the Securities and Exchange Board of India (SEBI) as a stock broker, depository participant and research analyst, and with the Association of Mutual Funds in India (AMFI) as a mutual fund distributor.
Its services are targeted at retail investors and high volume traders who actively invest and trade in securities markets and seek DIY (do-it-yourself) services at a low cost. (ANI)

Loading...
iocl
iocl