Paytm Money, a wholly-owned subsidiary company of Paytm now allows users to make Initial Public Offering (IPO) investments. Paytm Money until now allowed users to invest in multiple mutual funds in the market. The platform has more than 6 million users who invest through it. Extending the investments domain with the launch of IPO investment services will now allow retail investors of the country to be a part of more wealth creation opportunities. Applying for IPOs through Paytm Money is a very simple process for the users. More details on the story ahead.
Paytm Money Now Allowing IPO Investments
With Paytm Money, investing in IPOs will be a completely digital and seamless process for retail investors across the whole country. To apply for an IPO and complete the application process, users can do so with the UPI IDs linked with their respective bank accounts. Paytm is leveraging the UPI platform of the country and its infrastructure to make the process of applying for an IPO faster. The turnaround time for the whole process of applying for an IPO will be reduced by up to 4 days because of the use of UPI infrastructure. Paytm Money offers users a very seamless experience with everything they want to do in regards to their investment. If they want to make changes, they can do so within the IPO window itself. Users can even cancel or reapply for the IPO in case they change their mind. The platform will track and inform users about all the upcoming IPOs and give them insights into the company that is going public so that the users can make up their mind before they invest. Users will also be able to download a prospectus of the company they are interested in investing. Adding to this, the performance of the past IPOs can also be checked with the help of Paytm Money. Varun Sridhar, CEO of Paytm Money said, “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.” This just means that there is more coming from Paytm Money soon.
