SEBI approves @Paytm UPI handle; we now enable seamless applications for IPO – www.deekpay.com

SEBI approves @Paytm UPI handle; we now enable seamless applications for IPO | We are pleased to announce that our @Paytm UPI handle has received approval from the Securities and Exchange Board of India (SEBI) to enable fast andseamless payment mandates for IPO application. This move benefits millions of users to invest in capital markets through various brokerage platformsusing their @Paytm UPI handle. We are the largest UPI beneficiary bank and have one of the best technology infrastructures for processing UPItransactions. As per the latest NPCI report, we have registered the lowest technical decline rate of 0.02% as compared to all UPI remitter banks &0.04% as compared to all UPI beneficiary banks.We have also entered into a partnership with Paytm Money to enable payment mandates for IPOapplications. Paytm Money is India’s growth enabler for wealth products and is on a mission to bring 10 million Indians to equity markets byFY’22. The platform’s stock broking offering is helping to bring in more active direct equity investors in anunderpenetrated segment. It aims to open over 3.5 lakh demat accounts by year-end and expects 60% of users to be from small cities. It is focused onwealth creation with investments in Initial Public Offers (IPOs) and has made the process of IPO application completely digital & simple.Besides PaytmMoney, @paytm UPI will soon be activated across all brokerage platforms. The ease of making payments seamlessly in a secure manner will help in promotingIPOs as a wealth product and encouraging more new users to begin their journey in building a healthy portfolio.Satish Gupta, our MD & CEO said,“It has been our constant endeavour to weave the convenience of seamless digital payments to all aspects of the lives of our users. Byenabling @paytm UPI to apply for IPO we are giving millions of investors the ease of seamless, secure, and rapid payments to help enhance their financialportfolio. We believe that every Indian has a right to access capital markets and benefit from the burgeoning list of successful companies which arelisting 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 withour mission to drive financial inclusion across the country.”By investing in IPOs investors get an edge as they are part of the company’s business journey right from the start, therefore as the business grows so does the investor’s wealth. Based on this year’s IPO data, it can be conveniently said that India represents a huge appetite for IPOs. From FY 2021, the country’s stockexchanges (both NSE and BSE combined) witnessed around 24 IPOs and raised proceeds worth Rs.48,493 crores in total from the capital markets. Some of themost successful IPOs of FY 2021 were Burger King, Happiest Minds, Indigo Paints, and Mrs Bectors Food Specialities which had over 100% listing daygains. Within these, Burger King and Happiest Minds were oversubscribed by 156.65 times and 150.98 times and have delivered a listing day return of130.67% and 123.49% respectively as per NSE’s data. The IPO market is expecting to have many big names come to the retail market fornew offers like Zomato, LIC, Kalyan Jewellers and many more.