Paytm Money now offers IPO investments; plans to launch IPO funding too

Using Paytm Money, investors can make changes, cancel or reapply the bidding application within the IPO window. Additionally, investors can track upcoming IPOs, view company history and details, download prospectus, and also check the performance of past IPOs.

Paytm's wholly-owned subsidiary Paytm Money now allows investors to seamlessly apply and invest in Initial Public Offers (IPOs) in India, the fintech giant announced on Monday. The new service is available on both the Paytm Money app and website.

The process of IPO application is completely digital and simple. It will enable investors to instantly apply for all the latest IPOs via the Unified Payments Interface (UPI) ID linked to their bank accounts and quickly complete the IPO application process. UPI offers a faster turnaround time reduced to 3-4 days for completion of the entire process.

Using Paytm Money, investors can make changes, cancel or reapply the bidding application within the IPO window. Additionally, investors can track upcoming IPOs, view company history and details, download prospectus, and also check the performance of past IPOs.

Commenting on this development, 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.

Paytm Money says the new IPO investment service 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.

In the near future, the company plans to launch a host of other value-adding features including IPO funding, derivatives trading and margin finance to make investing seamless and convenient.