Paytm was the catalyst for India’s Digital Revolution. You can recharge your phone, pay your bills, book flights and movie tickets, start a savings account, invest in stocks and mutual funds, and much more. We went on to become India’s most popular payment app. Paytm is now used by over 20 million merchants and companies to accept payments digitally. This is due to the fact that more than 300 million Indians use Paytm to pay for their purchases in stores. Not only that, but the Paytm App is also used to pay bills, recharge mobile phones, send money to friends and family, and book movies and travel tickets. This is only one of the milestones reached toward our mission—to bring 500 million unserved and underserved Indians into the mainstream economy—with financial services and products in the pipeline.
The IPO of the Life Insurance Corporation of India (LIC) is expected to be the largest in the Indian stock market. Meanwhile, the government has reserved 10% of LIC shares, or roughly 3.16 crores, through an initial public offering (IPO). Keep an eye out for more information. The Government of India owns the Life Insurance Corporation of India (LIC). It is the only life insurance firm with a significant presence in both rural and urban settings. It has 8 zone offices and 113 divisional offices.
QR codes for free demat accounts are placed to make investing more accessible to the general public. Paytm Money, a wholly owned subsidiary of Paytm, is ready to take the largest ever public offering in India to retail outlets ahead of the 21,000 crore mammoth LIC IPO. To promote the average man to the power of investing with free lifelong demat accounts, the bargain broker has posted QR codes at kirana outlets around the country. Any individual will be able to simply create their free demat accounts (which are required for stock market trading) and put bids for the LIC IPO using these QR codes, according to a Paytm Money spokeswoman.
“Over the last few years, we’ve witnessed a rise in retail investor participation in the capital markets, and the LIC IPO is expected to add to that trend.” We are displaying our QR codes at Paytm merchant partners’ outlets around the country to give them free demat accounts, as many keen investors will want to start their wealth management journey right now. This highlights Paytm Money’s dedication to empowering small investors by assisting them in beginning their IPO journey in a quick and seamless manner,” said the spokesperson.
The LIC IPO is India’s largest market debut, and because the brand is so well-known, QR codes are being displayed at Paytm-partnered merchant outlets to make it easy for potential investors to apply for the IPO. As a result of the free demat accounts, this move will help to expand retail involvement in the capital markets. Paytm Money has become the first discount broker in India to allow HNIs to submit higher bids of up to Rs 5 lakh using UPI, skipping Bank ASBA flows. It has developed a distinct category for policyholders who are qualified to apply for the LIC IPO, in addition to the retail investor category.
Applications for initial public offerings (IPOs) that are not yet open to the public
Paytm Money has also enabled pre-open IPO applications, which will allow investors to subscribe even before the IPO opens for subscription. As soon as the IPO becomes live, such applications will be registered in Paytm Money’s system and submitted to exchanges. With over 8.5 lakh trading accounts and 9 million registered direct Mutual Fund investors, Paytm Money has grown at a rapid rate organically. Over 75% of the platform’s users are under the age of 35. Paytm Money has an AUM of 11,000 crore and a daily turnover of more than 70,000 crore. Over 16.2 million mutual fund transactions and over 31 million equity orders were executed using the platform in the previous year. With 1L+ registered users, the portal is also among India’s Top 3 digital distributors of NPS on fintech apps.