Question : Sebi has recently approved Paytm UPI handle for IPO applications. What is an IPO ?
(a) Initial Public Offering
(b) Initial Procurement Offering
(c) Initial Public Option
(d) None of the above
Ans.(a)
Related facts
- Sebi has recently(March 2021) approved Paytm UPI handle for IPO applications.
- This move will enable fast and seamless payment mandate for IPO applications.
- Partnership
- PPBL(Paytm Payments Bank) has also entered into a partnership with Paytm Money to enable payment mandates for IPO applications.
- Targets of Paytm & performance of the country’s stock exchanges
- It is notable that Paytm Money wants to bring 10 million Indians to equity markets by the financial year 2022.
- Paytm’s stockbroking platform aims to open over 3.5 lakh Demat accounts by year-end and expects 60 per cent of users to be from small cities.
- From the financial year 2021, the country’s stock exchanges witnessed around 24 IPOs(Initial Public Offerings) and raised proceeds worth Rs 48,493 crore from the capital markets.
By — Pankaj Pandey.