Paytm Money to facilitate investments in IPO, aims for 8-10% applications market share

By: |
November 30, 2020 12:49 PM

The company has made the process of IPO application completely digital and simple for retail investors to apply for public offers, and will continue to add new tech-savvy features for enhanced user experience, it added.

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 application process.

Fintech major Paytm on Monday said its wholly-owned subsidiary Paytm Money will now facilitate investments in Initial Public Offers (IPOs). The move is aimed at benefiting retail investors with wealth creation opportunities, as they will be able to seamlessly apply and join the growth story of rapidly expanding companies, a statement said.

The company has made the process of IPO application completely digital and simple for retail investors to apply for public offers, and will continue to add new tech-savvy features for enhanced user experience, it added.

The company is aiming to capture “8 to 10 per cent of applications market share in the first year of launch”, the statement said. 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 application process. The platform offers an interface to make changes, cancel or reapply the bidding application within the IPO window.

“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,” Paytm Money CEO Varun Sridhar said.

This presents a big opportunity and the company intends to make the process more accessible to citizens, he added.

“In the 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,” he said.

According to an analysis of data available with the stock exchanges, 12 initial public offerings (IPOs) in 2020 so far raised around Rs 25,000 crore, significantly higher than Rs 12,362 crore mopped up through 16 initial share-sales in the entire 2019. This figure could rise further as Burger King’s Rs 810-crore initial share-sale is scheduled to open on December 2.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1IRFC IPO: Check share allotment status via BSE, registrar’s website; grey market premium, listing date
2Indigo Paints IPO subscribed 116 times, grey market premium strong despite weakness in Sensex, Nifty
3Stove Kraft IPO: Issue opens for anchor investors, grey market premium jumps 26%; check price band