5paisa Capital to raise Rs 251 crore at Rs 500 per share; stock zooms 20%

The preferential issue price of Rs 500 apiece is at 70 per cent premium over Tuesday's closing price of Rs 292 per share on the NSE.

Shares of 5paisa Capital were locked at the 20 per cent-upper circuit at Rs 350.40 on the National Stock Exchange (NSE) on Thursday after the firm's board approved fund raising of Rs 251 crore at Rs 500 per share on preferential basis to marquee investors and Promoters and Promoter Group. The preferential issue price is at 70 per cent premium over Tuesday’s closing price of Rs 292 per share on the NSE.

A combined around 200,000 equity shares had changed hands on the counter and there were pending buy orders for around 79,000 shares on the NSE and BSE