Paytm Money launches IPO investments

Paytm Money, the wealth management arm of One97 Communications Ltd, will allow users to invest and participate in upcoming initial public offerings (IPOs) in India on its platform, it said on Sunday.

Paytm Money will enable investors to instantly apply for the latest IPOs from their Unified Payments Interface (UPI) ID-linked bank accounts and complete the application process in three-four days.

The platform will also offer an interface to help users change, cancel or reapply the bids within the IPO window. It will also aim to introduce features that will allow investors to track upcoming IPOs, view company history, download the draft prospectus, and check the performance of past IPOs. This service will be available both on the Paytm Money app and the website.

The new service will give retail investors wealth creation opportunities as they will be able to apply and join the growth story of rapidly expanding companies, the company said.

“The Indian startup 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. Investors are also increasingly willing to diversify their portfolio. This presents a big opportunity and we intend to make the process more accessible. In the near future, we plan to launch IPO funding, derivatives trading, margin finance, and a host of other value-added features to make investing seamless and convenient," said Varun Sridhar, chief executive officer, Paytm Money.

Paytm Money’s competitor Zerodha, which started the service in August 2019, is touted to be one of the largest digital brokers by the number of IPO applications. Other digital wealth management platforms that allow users to participate in IPOs are Groww and Upstox.

During March-November, the National Stock Exchange (NSE) and BSE raised a total of ₹24,973 crore via 12 IPOs. Some of the successful IPOs include SBI Cards, Mazagaon Dock, Rossari Biotech, Happiest Minds, and CAMS. Happiest Minds and Rossari Biotech were oversubscribed, according to NSE’s data.

In September, Paytm Money claimed to have 6.6 million subscribers, surpassing Zerodha’s 3 million.

Paytm Money said that 70% of its users are first-time retail investors, while Zerodha claimed that 65% of its users are new.

Earlier this month, Zerodha had also announced the launch of a new platform, which allowed users to gift stocks, exchange traded funds (ETFs), and gold bonds to others. The company also said that it will enable gifting of mutual funds to minors.

Recently, the chief executive of National Payments Corp. of India (NPCI), Dilip Asbe, said UPI has seen 10x growth in India and will grow at the same rate as new use cases, such as retail investing for IPOs through UPI and, features, such as Autopay, are added.

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

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