365telugu.com online news,Hyderabad, November 30, 2020: India’s homegrown digital financial services platform Paytm today announced that its wholly-owned subsidiary Paytm Money now facilitates investments in Initial Public Offers (IPOs) in India. This launch will benefit retail investors with wealth creation opportunities, as they will be able to seamlessly apply and join the growth story of rapidly expanding companies. The company has made the process of IPO application completely digital & simple for retail investors across the country to apply for IPOs. It will continue to innovate and add new tech-savvy features for enhanced user experience.Paytm Money has enabled investors to instantly apply for all the latest IPOs via UPI ID, linked to their bank accounts to quickly complete the IPO application process. The company is leveraging the convenience of UPI infrastructure to offer a faster turnaround time reduced to 3-4 days for completion of the entire process.The platform offers a seamless interface to make changes, cancel or reapply the bidding application within the IPO window. It is equipped with features enabling investors to track upcoming IPOs, view company history & details, download prospectus, and also check the performance of past IPOs. This service is available on both the Paytm Money app and website.
Varun Sridhar, CEO – Paytm Money said, “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 to our fellow citizens. 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.”In the period March-November 2020, the country’s stock exchanges (both NSE and BSE combined) witnessed 12 IPOs and raised proceeds worth Rs.249.73 billion (or Rs 24,973 crores) in total. Some of the successful IPOs of 2020 were SBI Cards, Mazagaon Dock, Rossari Biotech, Happiest Minds, and CAMS among others. Within these, Happiest Minds and Rossari Biotech were oversubscribed by 150.98x and 79.37x and have delivered a listing day return of 111% and 77% respectively as per NSE’s data.