MUMBAI:
5paisa Capital, a discount broker, said on Tuesday it will raise Rs 250 crore by allotting shares and warrants on a preferential basis to institutional shareholders and promoters.
The proposed investors for preferential allotment include Prem Watsa s Fairfax, one of the co-promoters of the brokerage, Hong Kong-based Ward Ferry, and Rimco. Promoters Nirmal Jain, Madhu Jain and R Venkataraman are subscribing to the warrants. The shares and warrants will be sold at Rs 500 per share, about 70% premium to Tuesday’s closing price of Rs 291.40.
5paisa Capital is one of the fastest growing discount broking companies in India with more than 1.3 million customers and 6.5 million mobile app users. The company offers broking, mutual funds, insurance, peer-to-peer lending, international stocks, gold investing and margin funding as part of its product bouquet. 5paisa.com had reported an income of Rs 144.7 crore for the first nine months of the financial year 2021, up 98% year-on-year