MUMBAI:
India’s homegrown Paytm Payments Bank Ltd (PPBL) today announced that it’s @Paytm UPI handle has received approval from the Securities and Exchange Board of India (SEBI) to enable fast and seamless payment mandates for IPO application. This move benefits millions of users to invest in capital markets through various brokerage platforms using their @Paytm UPI handle. PPBL is the largest UPI beneficiary bank and has one of the best technology infrastructures for processing UPI transactions. As per the latest NPCI report, it registers the lowest technical decline rate of 0.02% as compared to all UPI remitter banks & 0.04% as compared to all UPI beneficiary banks.
Paytm Payments Bank has also entered into a partnership with Paytm Money to enable payment mandates for IPO applications. Paytm Money is India’s growth enabler for wealth products and is on a mission to bring 10 million Indians to equity markets by FY’22. 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% of users to be from small cities. It is focused on wealth creation with investments in Initial Public Offers (IPOs) and has made the process of IPO application completely digital & simple.
Besides Paytm Money, @paytm UPI will soon be activated across all brokerage platforms. The ease of making payments seamlessly in a secure manner will help in promoting IPOs as a wealth product and encouraging more new users to begin their journey in building a healthy portfolio.
Satish Gupta, MD & CEO – Paytm Payments Bank Ltd said, “It has been our constant endeavour to weave the convenience of seamless digital payments to all aspects of the lives of our users. 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. This presents a big opportunity and we intend to make the process more accessible to our fellow citizens. This is aligned with our mission to drive financial inclusion across the country.”
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. Based on this year’s IPO data, it can be conveniently said that India represents a huge appetite for IPOs. From FY 2021, the country’s stock exchanges (both NSE and BSE combined) witnessed around 24 IPOs and raised proceeds worth Rs.48,493 crores 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 which had over 100% listing day gains. Within these, Burger King and Happiest Minds were oversubscribed by 156.65 times and 150.98 times and have delivered a listing day return of 130.67% and 123.49% respectively as per NSE’s data. The IPO market is expecting to have many big names come to the retail market for new offers like Zomato, LIC, Kalyan Jewellers and many more.
more recommended stories
Discover Serenity and Adventure at Club Mahindra Assonora, GoaPANAJI:Known for its vibrant beaches and.
Smart Waste Bin Project Wins CSI InApp Global AwardTHIRUVANANTHAPURAM:The smart waste bin project developed.
Progility Technologies Secures Contract to Enhance CIAL’s Digital InfrastructureKOCHI:Progility Technologies, a leading provider of.
HREvolve Organises ‘Elevate’ 24’ in Technopark to Address Challenges in HR DomainTHIRUVANANTHAPURAM:‘Elevate’24,’ the one-day conclave organised by.
Australian Consul General Expresses Support for Marketing of Horticultural ProductsKOCHI:Australian Consul General in South India,.
IndusInd Bank and UNICEF Collaborate to Strengthen Climate Risk ManagementMUMBAI:IndusInd Bank and UNICEF announced a.
Huddle Global at Finger Tips as CM Launches app for Mega Startup FestTHIRUVANANTHAPURAM:Chief Minister Pinarayi Vijayan today launched.
93% of Indian Executives Anticipate a Cyber-budget Increase Next YearNEW DELHI:Indian executives rank cybersecurity as.
KSUM Startup GreenAds Global Bags Google Innovation Champion HonourKOCHI:Leading business communication service provider GreenAds.
Technopark-based Centre of US Firm Bags Clutch Global AwardKOLLAM:Technopark-Kollam-based development facility of California-head quartered.