Paytm Money Aims To Be India’s Top Wealth Manager

Paytm Money, the online platform for mutual fund investments that recently forayed into equity broking, aims to be India’s top wealth manager as the owner of the nation’s largest e-wallet expands its financial services footprint.

“As we progress in this journey of becoming the preferred platform for users to save and invest, our goal is to provide a simple platform for users to do so,” Varun Sridhar, chief executive officer at digital investment unit of One97 Communications Pvt., told BloombergQuint in an interview. “With a few clicks you are able to save and make your money work harder.”

Paytm Money, which has 200-300 million customers doing 20-30 million transactions daily, aims to capitalise on its existing user base. “We see about 80%-odd users who are, what I’d call, important or very loyal Paytm users, and about 20% come from outside the system.”

And Sridhar expects a similar trend for its newly launched equity brokering platform. To ensure the success of its new financial product, Paytm Money has an ambitious plan to expand the capital market in its entirety.

Although the markets have grown over the past 20 years, “the reach is still thin”, Sridhar said. Of the 12-13 million retail investors in India, only 3 million are professionally managing their money. “Our goal as a platform would be to bring in 10-12 million additional users to the market side. That’d be our strength and skill.”

“I would love that everybody in India who dreams to own a part of Reliance (Reliance Industries Ltd.), a part of HDFC, a part of some of these top stocks should be able to do so with ease,” he said, adding equity markets are still a privilege of only some.

Besides, Sridhar expects Paytm Money, whose offerings also include insurance, NPS and digital gold, to expand into newer categories. “Step-by-step, you can expect a lot more.”

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Comments

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

JioMart , Reliance's online-to-offline commerce platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went live in 200 cities across India, is currently processing an average of 500,000 orders per day. " We can go even higher on peak days", Jio Platforms CEO Kiran Thomas revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of kiranas and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials." "Customers are transacting seamlessly on JioMart and the conversational nature of the service enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t

TCS merger with TCS e serve

The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p

Abhishek Securities

Search This Blog