5paisa Capital hits 10% UC

5paisa Capital hit the 10% UC at Rs.223.20, the moment it opened for trading today.

The stock has been on the rise since yesterday. On 26th Dec, through open market, the promoter of the company, Nirmal Bhanwarlal Jain purchased 50,000 equity shares of 5PCL.

Post this buy, promoters holding in the company increased to 30.4% from 30.01%.

5paisa is a wholly-owned subsidiary of IIFL Holdings is engaged in providing an online technology platform for trading in National Stock Exchange of India (NSE) and BSE through web-based trading terminal mobile application and a state-of-the-art Call and Trade Unit.

The listing of this company was not through an IPO but as per a demerger deal wherein IIFL shareholders got 25 shares of 5paisa for every share held.