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Paytm, a homegrown financial services major, on Monday announced that its wholly-owned subsidiary, Paytm Money, now facilitates investments in Initial Public Offers (IPOs) in India.
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 and simple for retail investors across the country to apply for IPOs, a company 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 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.
Varun Sridhar, CEO, 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 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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