Paytm Money wholly-owned subsidiary of Paytm aiming for 8-10 p.c IPO market share in the primary 12 months of launch.
Paytm on 30 November 2020 introduced that its wholly-owned subsidiary Paytm Money now facilitates investments in Initial Public Offers (IPOs) in India. Paytm Money was based on 20 September 2017 beneath father or mother 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 corporate mentioned in a weblog submit.
Paytm Money has enabled investors to immediately apply for all the newest IPOs through UPI ID, linked to their financial institution accounts to shortly full the IPO utility course of. The firm is leveraging the comfort of UPI infrastructure to provide a sooner turnaround time decreased to 3-four days for completion of your entire course of.
Varun Sridhar, CEO of Paytm Money mentioned, “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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