IIFL-backed 5paisa Capital, an online financial services provider, will list its shares on the BSE and NSE by July 2017, said a top official. “We will get listed by July-end in both the bourses,” said Prakarsh Gagdani, chief executive officer and director, 5paisa Capital Ltd. “IIFL had pumped in ₹Rs.100 crore. We will be raising next round of funding by end-2018.” 5paisa Capital will be demerged and listed as independent company on the bourses. Every IIFL shareholders holding one share will be allotted 25 shares of 5paisa Capital. Meanwhile, 5Paisa.com, which offers trading, mutual funds and insurance at cheapest rate, has drawn up aggressive plan to serve at least 1 million investors by 2020.
Customer base
“Since April 2016, we have built a customer base of 15,000, which has been growing at 85% quarter-on-quarter. In the coming quarters, it might grow by 100% as we are planning to enter Tier-II, Tier-III and Tier-IV cities with our offerings,” Mr.Gagdani said.
He said their immediate plan was to set up a branch office in Bengaluru to pursue Southern markets as they have been seeing major traction in customer acquisition. “Chennai accounts for 30% of our customers, while the remaining 70% comes from Coimbatore, Kancheepuram, Salem, Madurai, Trichy and Vellore. In the last three months, there has been a 30-35% growth in these markets,” he said.
