India’s homegrown digital economic solutions platform Paytm on Monday announced that its wholly owned subsidiary Paytm Money now facilitates investments in initial public offerings (IPOs) in India. This launch will advantage retail investors with wealth creation possibilities, as they will be capable to seamlessly apply and join the development story of swiftly-expanding providers.
The organization has produced the method of IPO application totally digital and basic for retail investors. It will continue to innovate and add new tech-savvy capabilities for enhanced user practical experience.
Paytm Money has enabled investors to immediately apply for all the most up-to-date IPOs through UPI ID, linked to their bank accounts, to speedily full the application method. The organization is leveraging the comfort of UPI infrastructure to offer you a more quickly turnaround time lowered to 3-4 days for completion of the whole method.
The platform presents a seamless interface to make alterations, cancel or reapply the bidding application inside the IPO window. It is equipped with capabilities enabling investors to track upcoming IPOs, view organization history and facts, download prospectus and verify the efficiency of previous IPOs. This service is readily available on each the Paytm Money app and the web site.
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.”
During March-November 2020, the country’s stock exchanges (NSE and BSE combined) witnessed 12 IPOs and raised proceeds worth Rs 249.73 billion (or Rs 24,973 crore) in total. Some of the thriving IPOs of 2020 have been SBI Cards, Mazagaon Dock, Rossari Biotech, Happiest Minds and CAMS, amongst other people. Within these, Happiest Minds and Rossari Biotech have been oversubscribed by 150.98x and 79.37x and have delivered a listing day return of 111% and 77%, respectively, according to NSE’s information.