ICICI Direct’s research report on 5paisa Capital
Paisa is a leading discount stock broker backed by the Nirmal Jain led IIFL group. Aggressive client accretion with ~84% of incremental client from Tier II & below cities and ~78% of customers below 35 years of age The company has retail cash market share of 3.6% as of September 2021
Being a new age fintech broker, we retain our BUY rating on the stock. We value 5 Paisa at ~38x P/E on FY23E EPS to arrive at revised target price of Rs 530 per share.
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