Paytm Money, Paytm's stocks and mutual fund investment platform, aims to get more than 10 million users and 75 million yearly transactions in the coming financial year.
“By enabling @paytm UPI to apply for IPO we are giving millions of investors the ease of seamless, secure, and rapid payments to help enhance their financial portfolio. We believe that every Indian has a right to access capital markets and benefit from the burgeoning list of successful companies
which are listing in the stock market,” said Satish Gupta, MD and CEO - Paytm Payments Bank Ltd
The platform's stockbroking offering is helping to bring in more active direct equity investors in an underpenetrated segment. It aims to open over 3.5 lakh demat accounts by year-end and expects 60 per cent of users to be from small cities. It is focused on wealth creation with investments in IPOs and has made the process of IPO application completely digital.
Besides Paytm Money, @paytm UPI will soon be activated across all brokerage platforms, the firm said in a statement.
By investing in IPOs investors get an edge as they are part of the company's business journey right from the start, therefore as the business grows so does the investor's wealth.
In the current financial year, the country’s stock exchanges (both National Stock Exchange and BSE combined) witnessed around 24 IPOs and raised proceeds worth Rs 48,493 crore in total from the capital markets.
Some of the most successful IPOs of FY 2021 were Burger King, Happiest Minds, Indigo Paints, and Mrs Bectors Food Specialities. Within these, Burger King and Happiest Minds were oversubscribed by 156.65 times and 150.98 times, according to NSE data. The IPO market is expecting to have many big names come to the retail market for new offers like Zomato, LIC, and Kalyan Jewellers.
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