5paisa Capital has decided to merge IIFL Securities' online retail trading business with itself. The reorganisation between the two IIFL Group entities aims to consolidate the online retail trading businesses under one single entity. The boards of 5paisa Capital and IIFL Securities approved the transfer of IIFL Securities' online retail trading business to 5paisa Capital. This is subject to regulatory approvals.
Consequent to the transaction, about 1.5 million customers of IIFL Securities undertaking online trading business will be hived-off to 5paisa Capital. This will lead to 5paisa Capital's customer base increasing by over 40 per cent to over 4.7 million customers. Besides, 5paisa Capital will have strategic advantages in terms of increased customer base and revenues, including cross-selling and profitability.
5paisa Capital is the fastest growing full-service discount brokerage company in the fintech space.
