5Paisa Capital

5paisa Capital has received a show cause notice from the Securities and Exchange Board of India (SEBI) over the alleged expiry of its registration as an investment adviser due to non-payment of regulatory fees. The notice, received on June 5, asks the company to explain why its certificate should not be cancelled. 5paisa said it would respond promptly and has disclosed the development to stock exchanges. The outcome of the proceedings remains uncertain, and the financial impact cannot be quantified at this stage.

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** Shares of India's IIFL Capital Services IIFS.NS rose as much as 6.2% to close at 330 rupees

** Fairfax Financial FFH.TO in final stages to acquire an additional stake of about 10% in IIFS via preferential allotment, NDTV Profit reported on Tuesday

** Deal is valued at about 10 billion rupees ($106.95 million) at current market price, as per report

** FFH holds a 27.18% stake in IIFL as of December 31, 2025, according to LSEG data

** YTD stock down 14.45%

($1 = 93.5000 Indian rupees)

(Reporting by Devika Nair in Bengaluru)

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March 11 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• 5PAISA CAPITAL - RIGHTS ISSUE PRICE SET AT 300 RUPEES PER SHARE

Source text: ID:nBSE36Dp5j

Further company coverage: PAIS.NS

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Feb 24 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• TO RAISE FUNDS UP TO 4.75 BILLION RUPEES VIA RIGHTS ISSUE

Source text: ID:nNSE19dgmj

Further company coverage: PAIS.NS

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Jan 21 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• BOARD APPROVES FUND RAISING

• AGGREGATE AMOUNT NOT EXCEEDING 5 BILLION RUPEES

Source text: ID:nNSE2b9PPT

Further company coverage: PAIS.NS

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Jan 16 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• 5PAISA CAPITAL - TO CONSIDER TO RAISE FUNDS

Source text: ID:nBSE7S6pw4

Further company coverage: PAIS.NS

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** Shares of India's 5paisa Capital PAIS.NS drop nearly 5% to 340 rupees

** Financial services co's third-quarter consol profit after tax drops 24% y/y to 123 mln rupees ($1.4 mln), income slips 7%

** Trading vols 433,236 shares vs 30-day avg of 289,144 shares

** Stock lost ~29% in 2025

($1 = 90.1340 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of India's IIFL Capital Services IIFS.NS up 2% to 398 rupees

** Stock saw choppy trade earlier in the day, swung between as much as 5.3% gains and 2.4% declines

** TPG Capital is in talks to buy a stake of up to 20% in co, two sources familiar with the deal told Reuters

** IIFS has jumped nearly 20% between Dec 29 and Jan 6

** Trading vols 2.4 mln shares vs 30-day avg of about 979k shares

** TPG declined comment, IIFL Capital did not immediately respond to Reuters' request for comment

** In 2025, IIFS had risen about 11%

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of 5paisa Capital PAIS.NS fall 4.5% to 398 rupees, their biggest intraday pct loss in over three months

** Online stock broking firm's Q1 profit falls 74% Y/Y, hurt by lower number of orders in the quarter; rev down 31.6%

** More than 129,000 shares traded; 3.5x the 30-day avg

** Stock down 14.8% YTD

(Reporting by Aleef Jahan in Bengaluru)

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June 18 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• LAUNCHES MODEL CONTEXT PROTOCOL FOR AI-POWERED TRADING INTEGRATION

Source text: [ID:]

Further company coverage: PAIS.NS

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May 1 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• MARCH-QUARTER CONSOL PROFIT 100.7 MILLION RUPEES

• MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 712.7 MILLION RUPEES

Source text: ID:nNSE4p58Nx

Further company coverage: PAIS.NS

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April 16 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• 5PAISA CAPITAL LTD - TO CONSIDER ISSUANCE OF NON-CONVERTIBLE DEBENTURES THROUGH PRIVATE PLACEMENT

Source text: ID:nBSEgw81j

Further company coverage: PAIS.NS

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March 21 (Reuters) - ** Afcons Infrastructure AFCN.NS rises 2.3% to seven-week high of 480.85 rupees; set for third day of gains

** IIFL Capital starts with "buy", PT of 554 rupees

** Says co's existing 486 bln-rupee order book (including L1 position) and stable government infra spends provide strong growth visibility

** Expects revenue and profit to grow at compounded annual rate of 20% and 24%, respectively, over FY25-FY27

** Adds margins rose steadily due to larger size, complexity of projects and will sustain going ahead

** Stock rated "strong buy" on avg; median PT is 570.50 rupees, per data compiled by LSEG

** AFCN up 4% from IPO price of 463 rupees when it debuted on November 4, 2024, but down 12% YTD

(Reporting by Vivek Kumar M)

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** IIFL Finance IIFL.NS rises 3.3%; wealth management firms 360 One Wam ONEW.NS and 5paisa Capital PAIS.NS gain 4.7% and 3.4%, respectively

** Income tax authorities have concluded searches at their premises, IIFL Finance, 360 One Wam and 5paisa Capital say

** IIFL rated "strong buy", ONEW rated "buy" on avg; PAIS not rated - LSEG

** YTD, ONEW's ~18% loss steepest among three; IIFL and PAIS down ~12% and ~15%, respectively

(Reporting by Hritam Mukherjee in Bengaluru)

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Feb 4 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• INCOME TAX DEPARTMENT CONCLUDES SEARCH AT 5PAISA PREMISES

Source text: ID:nNSEcb60wC

Further company coverage: PAIS.NS

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Jan 29 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• 5PAISA CAPITAL LTD - INCOME TAX DEPARTMENT INITIATES SEARCH AT 5PAISA CAPITAL PREMISES

• 5PAISA CAPITAL LTD - BUSINESS OPERATIONS CONTINUE NORMALLY

Source text: ID:nBSE5j2bnh

Further company coverage: PAIS.NS

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Jan 17 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• GAURAV SETH APPOINTED AS MANAGING DIRECTOR

Source text: ID:nNSE68Njvn

Further company coverage: PAIS.NS

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Jan 14 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• 5PAISA CAPITAL - NAMES GAURAV SETH AS CEO

Source text: ID:nBSE22XlcK

Further company coverage: PAIS.NS

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Oct 3 (Reuters) - Shares of Indian brokerages fell on Thursday after the markets regulator tightened rules for trading in derivatives.

The Securities and Exchange Board of India (SEBI) on Tuesday lowered the number of weekly options contracts available to trade for investors to one per exchange and raised the minimum trading amount by nearly three times. The changes will be implemented on Nov. 20.

Discount brokers 5Paisa Capital PAIS.NS and larger peer Angel One ANGO.NS were among the biggest losers, dropping 2.7% and 3.3%, respectively.

Indian stock exchanges were closed on Wednesday for a local holiday.

The measures will hit discount brokers that have a large clientele of retail traders the most, as well as exchanges, Jefferies said in a note.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)

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BENGALURU, July 31 (Reuters) - Shares of Indian brokerages fell on Wednesday, a day after the markets regulator proposed several measures to curb trading in options.

The Securities and Exchange Board of India (SEBI) on Tuesday evening proposed raising the minimum trading amount for index options by over three times, reducing the number of contracts expiring each week and hiking margins.

Shares of Angel One ANGO.NS, 5Paisa Capital PAIS.NS, SMC Global Securities SMCG.NS, Motilal Oswal MOFS.NS, Geojit Financial GEOJ.NS, Dolat Algotech DOLA.NS and IIFL Securities IIFS.NS fell between 1%-5%.

"Exchanges and retail focused brokers will be most impacted. Highest impact can come from reduction in the number of weekly option contracts," Jefferies said in a note.

"BSE can offset impact and even gain, if volumes spillover from discontinued products to those which are continued."

Shares of exchange operator BSE BSEL.NS rose 6%.

India has been flagging risks from speculative trading by retail investors, who have been funnelling savings into its booming options market. Last week, the government raised the tax derivative transactions.

In fiscal year 2024, over 9 million individuals and firms dabbled in index derivatives and incurred a loss of 516.89 billion rupees ($6.18 billion), as per a SEBI discussion paper.

Investec expects a 30% drop in number of derivative orders per client for Angel One and sees it raising prices to 25 rupees per order from 20 rupees.

Angel One has slipped more than 39% so far this year, the top loser among brokerages, while Dolat Algotech and Motilal Oswal MOFS.NS are the top gainers, up 117% and 113%, respectively.

India's largest discount brokerage, Zerodha, does not expect a large impact on trading volumes.

"The suggested changes, even with the securities transaction charge increase, won't really change options volumes," Nithin Kamath, CEO and co-founder of Zerodha, said on social media platform X.

($1 = 83.6980 Indian rupees)

(Reporting by Sethuraman NR in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Repeats story published on July 19 with no changes to text

By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

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By Jayshree P Upadhyay and Jaspreet Kalra

MUMBAI, July 19 (Reuters) - Indian airlines and some brokerages faced technical and operational disruptions on Friday amid a global IT outage, multiple traders and airlines said.

Several major oil and gas trading desks in London and Singapore were struggling to execute trades due to a cyber outage, six industry sources told Reuters. LSEG Group's LSEG.L Workspace news and data platform also suffered an outage, affecting user access worldwide.

"We are currently experiencing technical challenges with our service provider, affecting online services including booking, check-in, and manage booking functionalities," SpiceJet SPJT.BO said on social media platform X.

Indigo, Akasa Air, Vistara, Air India and Air India Express also posted messages on X saying they were facing issues.

New Delhi airport said it too faced some IT issues and some services were temporarily affected.

Among the brokerages in India, Nuvama Wealth Management NUVA.NS, Edelweiss Mutual Fund, Motilal Oswal, IIFL Securities IIFS.NS, 5Paisa Capital PAIS.NS and Angel Broking are facing technical difficulties, traders at the brokerages told Reuters.

None of the brokerages responded to emails seeking confirmation and comment.

India's interbank trading platforms were functioning, however, and banks said they were able to execute bonds and foreign exchange transactions without any issues.

A source at the country's central bank said they were aware of the global outage but their systems were functional.

Widespread outages affecting banks, telecom networks and media were reported in Australia, possibly linked to an issue at global cybersecurity firm Crowdstrike CRWD.O. Major U.S. airlines also issued ground stops citing communications issues.

Crowdstrike ran a recorded phone message on Friday saying it was aware of reports of crashes on Microsoft's MSFT.O Windows operating system relating to its Falcon sensor.

(Reporting by Jayshree P Upadhyay and Jaspreet Kalra; Writing by Swati Bhat; Editing by Tom Hogue)

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July 12 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• Q1 CONSOL PROFIT 200.9 MILLION RUPEES

• Q1 CONSOL TOTAL REVENUE FROM OPERATIONS 1.02 BILLION RUPEES

Source text for Eikon: ID:nBSE8w0p6z

Further company coverage: PAIS.NS

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Rewrites with Zerodha comments; updates share prices

BENGALURU, July 2 (Reuters) - Zerodha, India's largest discount broker, said on Tuesday it will in all likelihood have to abandon its zero-brokerage model and raise derivative trading fees after the market regulator mandated uniform charges that are not based on volumes.

Exchanges often charge a lower fee to brokers if they generate high volumes. Brokers, in turn, charge traders little to no fees, which has contributed to a surge in trading across segments like derivatives that the Securities and Exchange Board of India (SEBI) wants to curb.

The new fee structure, which kicks in from October, has a significant impact on brokers, traders and investors, Nithin Kamath, CEO and co-founder of Zerodha, said on social media platform X.

"With the new circular, we will, in all likelihood, have to let go of the zero brokerage structure and/or increase brokerage for F&O trades," he said, referring to futures and options, which are derivative products in the stock market.

"Brokers across the industry will also have to tweak their pricing."

Shares of listed brokerages Angel One ANGO.NS, SMC Global Securities SMCG.NS, Motilal Oswal MOFS.NS, Geojit Financial GEOJ.NS and Dolat Algotech DOLA.NS fell between 3% and 8% on Tuesday.

5Paisa Capital PAIS.NS ended flat, while exchange operator BSE BSEL.NS dropped about 3.5%.

Some of these stocks have jumped 50%-124% so far this year due to a surge in trading activity, with the blue-chip Nifty 50 .NSEI and S&P BSE Sensex .BSESN indexes trading at all-time highs.

The exchange transaction charge, which constitute between 15%-30% of large brokers' revenues and more than 50% of discount brokers', is crucial for their sustainability, said Tejas Khoday, CEO and co-founder of discount broking firm FYERS.

"A 100% pass-through of exchange transaction charges threatens to destabilise the discount brokerage business model," Khoday said.

The revenue impact on Zerodha could be 10%, and 10%-50% for the industry, Kamath estimated.

The SEBI had warned of rising risks due to a surge in derivative trading. Regulators were discussing steps to cool the frenzy, Reuters reported last month.

(Reporting by Jayshree P Upadhyay and Sethuraman NR in Bengaluru; Editing by Mrigank Dhaniwala and Savio D'Souza)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of 5Paisa Capital PAIS.NS down 6.4% at 538.40 rupees

** Online stock broking firm's March-qtr consolidated profit tumbles ~60% y-o-y as total expenses climb 45.7%; interest income up 42.4%

** PAIS down after two straight sessions of gains

** More than 557,900 shares trade in stock's second-busiest session so far this month

** Stock down 4.9% YTD, after 84.1% rise in 2023

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

March 15 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• MULTI COMMODITY EXCHANGE OF INDIA IMPOSED RESTRICTION ON CO WITH REGARD TO ONBOARDING OF NEW CLIENTS

• MCX ORDER TO RESTRICT ONBOARDING OF NEW CLIENTS ACROSS ALL SEGMENTS WITH IMMEDIATE EFFECT

• RESTRAIN SHALL CONTINUE TILL CO SUBMITS COMPLETE ROOT CAUSE ANALYSIS ALONG WITH DOCUMENTARY EVIDENCE

• COMPANY FILED WRIT PETITION BEFORE BOMBAY HIGH COURT CHALLENGING THE ONBOARDING RESTRICTION OF NEW CLIENTS

• COURT WAS APPRAISED BY COUNSEL REPRESENTING MCX THAT ONBOARDING ORDER WILL NOT BE ACTED UPON BY MCX

• ACCORDINGLY, THERE IS NO RESTRICTION ON THE COMPANY TO ONBOARD NEW CLIENTS

Source text for Eikon: ID:nNSE4St7L9

Further company coverage: PAIS.NS

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Jan 22 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• TO WITHDRAW SCHEME OF ARRANGEMENT BETWEEN CO, IIFL SECURITIES

• SCHEME OF ARRANGEMENT SOUGHT TO DEMERGE IIFL'S ONLINE RETAIL TRADING BUSINESS INTO CO

Source text for Eikon: ID:nNSE2sdS3G

Further company coverage: PAIS.NS

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Jan 11 (Reuters) - 5Paisa Capital Ltd PAIS.NS:

• DEC-QUARTER CONSOL PROFIT 150.9 MILLION RUPEES VERSUS PROFIT 110.2 MILLION RUPEES

• DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 1 BILLION RUPEES VERSUS 837.6 MILLION RUPEES

Source text for Eikon: ID:nBSE1pmRld

Further company coverage: PAIS.NS

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** Shares of 5paisa Capital PAIS.NS up as much as 4.97% to 495.25 rupees, their highest since Oct. 19, 2021

** Stock most active since July 26

** Online financial services provider says its consolidated profit after tax for July-Sept quarter rose nearly 80% to 190.4 mln rupees ($2.29 mn)

** About 539,862 shares change hands as of 12:31 p.m. IST, 7.3x the 30-day average

** Stock last up 2.6%, extending YTD gains to 57.3%

($1 = 83.2485 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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