Paytm on Monday announced that its subsidiary Paytm Money will now facilitate investments in Initial Public Offers (IPO) in India.
The new service will give retail investors wealth creation opportunities as they will be able to apply and join the growth story of rapidly expanding companies
About Company
Paytm Money Limited is a SEBI registered Investment Adviser (IA) that offers investment execution & advisory services.
Our simplified user experience allows you to start your investment journey with zero paperwork, seamless digital KYC, automated payments, updated portfolio and powerful insights to take well informed investment decisions.
Features
The Company said It is also using UPI infrastructure to offer a faster turnaround time reduced to 3-4 days for completion of the entire process.
Upcoming IPO features
The platform will introduce features that will allow investors to track upcoming IPOs, view company history, download the draft prospectus, and check the performance of past IPOs.
Seamless Interface
Paytm Money also promises to deliver a “seamless interface” that will make it easier for users to make changes, cancel or re-apply for the bidding application with an IPO window.
Change, cancel or reapply feature
It will also offer an interface to help users change, cancel or reapply the bids within the IPO window.
It will continue to innovate and add new tech-savvy features for enhanced user experience.
The service will be available both on the Paytm Money app and the website.
Company Performance
In September, Paytm Money claimed to have 6.6 million subscribers, surpassing Zerodha’s 3 million.
Comment from CEO
“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.
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