Business

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

Online investment platform Paytm Money said its users can now put in applications for investment in IPOs via the platform, adding that it was aiming to capture an 8-10% share of total applications for IPOs in the first year of the introduction of this facility. It said it had made the process of IPO application ‘digital and simple for retail investors’ across the country and investors can instantly apply for all the latest IPOs via UPI ID linked to their bank accounts.

“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,” Varun Sridhar, CEO - Paytm Money said.

Mr. Sridhar added that the platform will soon launch more features, including derivatives trading and margin finance with an aim to make investing seamless and convenient.

As per the data shared by the company, during March-November 2020, the country’s stock exchanges (both NSE and BSE combined) witnessed 12 IPOs and raised proceeds worth ₹249.73 billion (or ₹24,973 crore) in total. Some of the successful IPOs of 2020 were SBI Cards, Mazagon Dock, Rossari Biotech, Happiest Minds, and CAMS.

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Printable version | Jan 25, 2021 5:41:06 AM | https://www.thehindu.com/business/paytm-money-to-facilitate-investments-in-ipo-aims-for-8-10-applications-market-share/article33216072.ece

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