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 organization One97 Communications. “This launch will benefit retail investors with wealth creation opportunities, as they will be able to apply seamlessly 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 complete the IPO application process quickly. The company is leveraging UPI infrastructure’s convenience 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 portfolios. This presents a big opportunity, and we intend to make the process more accessible to our fellow citizens. We plan to launch IPO funding, derivatives trading, margin finance, and a host of other value-adding features to make investing seamless and convenient shortly. This is aligned with our mission to drive financial inclusion across the country.”