Digital payments firm Paytm Payments Bank on Monday said Securities and Exchange Board of India has approved Paytm UPI handle to enable fast and seamless payment mandates for IPO applications.
Paytm Payments Bank (PPBL) has also entered into a partnership with Paytm Money to enable payment mandates for IPO applications. Paytm Money has the aim to bring 10 million Indians to equity markets by the financial year 2022.
"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," PPBL MD and CEO Satish Gupta said in a statement.