Paytm Money launches IPO investments for retail investors

MUMBAI: Retail investors can now subscribe to initial public offers (IPOs) through Paytm Money. Digital financial services platform announced on Monday that it has enabled investors to instantly apply for all the 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.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, said Paytm. 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 platform offers an interface to make changes, cancel or reapply the bidding application within the IPO window. It is equipped with features enabling investors to track upcoming IPOs, view company history & details, download prospectus, and also check the performance of past IPOs. This service is available on both the Paytm Money app and website.Paytm is also planning to launch IPO funding, derivatives trading, margin finance and a host of other value-adding features to make investing seamless and convenient, according to Varun Sridhar, CEO - Paytm Money.“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,” he said.

from Economic Times https://ift.tt/2KRC6YJ