Paytm UPI handle gets SEBI’s nod for issuing IPO mandates
The company also announced that Paytm Payments Bank has entered into a partnership with Paytm Money to enable IPO mandates via its platform.
Paytm Payments Bank on Monday announced that it has received approval from the Securities and Exchange Board of India (SEBI) to enable payment mandates for initial public offering (IPO) via its UPI handle.
The company said that this will enable Paytm users to invest in capital markets via various brokerage platforms using its @Paytm UPI handle. The company also announced that Paytm Payments Bank has entered into a partnership with Paytm Money to enable IPO mandates via its platform.
The company also announced that, in addition to Paytm Money, it will soon be activating its UPI handle across all brokerage platforms, which will make it easier for users to manage their financial portfolios.
“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,” Satish Gupta, MD & CEO - Paytm Payments Bank Ltd said on the occasion.
Notably, the announcement comes ahead of the expected IPOs of several companies including Zomato, LIC and Kalyan Jewellers in India.