5paisa Capital Limited (BSE:540776) agreed to acquire Online Retail Trading Business of IIFL Securities from IIFL Securities Limited (NSEI:IIFLSEC) on December 6, 2022. The deal is subject to statutory and regulatory approvals, approval from Stock Exchanges/SEBI and National Company Law Tribunal, approval from shareholders and creditors of both 5paisa Capital and IIFL. The Board of Directors of IIFL Securities and 5paisa approved the transaction. In lieu of this transfer, IIFL Securities shareholders will receive 1 share of INR 10 paid up of 5paisa Capital for every 50 shares of INR 2 paid up of IIFL Securities held by them as on the record date. Khaitan & Co. and V. Sankar Aiyar & Co. were legal advisors and auditors respectively for both the companies. GT Valuation Advisors Private Limited and Bansi S. Mehta Valuers LLP served as valuers for IIFL Securities and 5paisa Capital respectively. ICICI Securities Limited and Keynote Financial Services Limited, merchant bankers, gave their fairness opinion for IIFL Securities and 5paisa Capital respectively. 5paisa Capital Limited (NSEI:5PAISA) cancelled the acquisition of Online Retail Trading Business of IIFL Securities from IIFL Securities Limited (NSEI:IIFLSEC) on January 22, 2024.

5paisa Capital Limited (NSEI:5PAISA) cancelled the acquisition of Online Retail Trading Business of IIFL Securities from IIFL Securities Limited (NSEI:IIFLSEC) on January 22, 2024.