Paytm Money to allow investors to participate in public listings
Paytm Money, the wealth management arm of One97 Communications Ltd, will allow users to invest and participate in upcoming initial public offerings (IPOs) in India on its platform, it said on Sunday.
Paytm Money will enable investors to instantly apply for the latest IPOs from their UPI ID-linked bank accounts and complete the application process in three-four days.
The platform will also offer an interface to help users change, cancel or reapply the bids within the IPO window. It will also aim to introduce features that will allow investors to track upcoming IPOs, view company history, download the draft prospectus, and check the performance of past IPOs. This service will be available both on the Paytm Money app and the website.
“The Indian startup 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. Investors are also increasingly willing to diversify their portfolio. This presents a big opportunity and we intend to make the process more accessible. In the near future, we plan to launch IPO funding, derivatives trading, margin finance, and a host of other value-added features to make investing seamless and convenient,” said Varun Sridhar, chief executive officer, Paytm Money.
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