5paisa Capital up 5% for second day after promoter Nirmal Jain buys stake

On December 5, 2017, Nirmal Bhanwarlal Jain, purchased 128,520 equity shares representing 1% stake of 5Paisa Capital at price of Rs 191.22 per share on NSE.

5paisa Capital was locked in upper circuit for the second straight day, up 5% at Rs 206 on the National Stock Exchange (NSE) after Nirmal Jain, the promoter of the company, bought an additional one percentage point stake in the company through an open market transaction.

Till 10:09 AM; around 5,306 shares changed hands on the counter and there were pending buy orders for 806,680 shares on the NSE.

On December 5, 2017, Nirmal Bhanwarlal Jain, purchased 128,520 equity shares representing 1% stake of 5paisa Capital at price of Rs 191.22 per share on the NSE, the bulk deal data shows. CLICK HERE FOR BULK DEAL DATA

The name of seller however not ascertained immediately.

As of November 15, 2017, Nirmal Bhanwarlal Jain held 2.05 million or 16.09% stake in 5paisa Capital. Total promoters holding stood at 29%, the shareholding pattern data shows.

On the BSE, the stock was locked in lower circuit for the 14 straight trading sessions, down 5% at Rs 256. Around 156 shares changed hands and there were pending sell orders for 58,903 shares, the exchange data shows. The stock was listed on the November 16, 2017 on the BSE and NSE.

5paisa Capital is a part of the IIFL Group. Positioned as a one-stop online shop for all investment and insurance needs, it has a robo-advisory platform that addresses all the financial needs of an individual and helps plan buying Mutual Funds and insurance (life, health and motor) along with low cost broking in equity. The firm offers trading, investment and insurance products online at the cheapest rate amongst all other companies in this space. IIFL holdings had hived off 5paisa Capital Ltd into a separate company.