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Shares of IIFL Wealth Management on Thursday rose 5 per cent in the first day of trade after its demerger.
The scrip opened at Rs 1,200 on the Bombay Stock Exchange (BSE). During the day, it jumped 5 per cent to Rs 1,260 from its opening price.
On the National Stock Exchange (NSE), shares of the company gained 5 per cent to close at Rs 1,270.50. It had started trade at Rs 1,210.
Last year, financial services firm IIFL Holdings announced to demerge its finance, wealth and capital business into three separate entities and list them on bourses.
In terms of traded volume, 1.55 lakh shares of the company were traded on the BSE and over 17 lakh shares on the NSE during the day.
The company’s market valuation was at Rs 10,725.91 crore.
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