TechSamvadNov 30, 2020 17:28:34 IST
Paytm on 30 November 2020 announced that its wholly-owned subsidiary Paytm Money now facilitates investments in Initial Public Offers (IPOs) in India. Paytm Money was founded on 20 September 2017 under parent organisation One97 Communications. "This launch will benefit retail investors with wealth creation opportunities, as they will be able to seamlessly apply and join the growth story of rapidly expanding companies. The company has made the process of IPO application completely digital & simple for retail investors across the country to apply for IPOs. It will continue to innovate and add new tech-savvy features for enhanced user experience," the company said in a blog post.
Paytm Money has enabled investors to instantly apply for all the latest IPOs via UPI ID, linked to their bank accounts to quickly complete the IPO application process. The company is leveraging the convenience of UPI infrastructure to offer a faster turnaround time reduced to 3-4 days for completion of the entire process.
Varun Sridhar, CEO of Paytm Money said, “The Indian start-up ecosystem has a growing appetite for entering the capital market, now more companies want to raise capital from a broader set of investors with a public listing. Likewise, investors are also increasingly willing to diversify their portfolio. This presents a big opportunity and we intend to make the process more accessible to our fellow citizens. In near future, we plan to launch IPO funding, derivatives trading, margin finance and a host of other value-adding features to make investing seamless and convenient. This is aligned with our mission to drive financial inclusion across the country.”
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