Paytm Money sets Rs.5 lakh limit for IPOs through UPI

One97 Communications Limited (OCL) that owns the brand Paytm digital payments and financial services company, annnounced that its wholly-owned subsidiary Paytm Money Limited (PML) is enabling high networth individuals (HNI) in Tamil Nadu to place higher bids of upto Rs.5 lakh for Initial Public Offerings (IPOs) effortlessly through UPI. 

To enable new retail investors to start their wealth management journey, Paytm Money is also offering free demat accounts for lifetime to all. Paytm Money was the first platform to offer pre-open IPO applications and it is also available for LIC IPO.

Varun Sridhar, CEO, Paytm Money, said, “The addition of the HNI investor category will allow retail investors in Tamil Nadu to place higher IPO bids through NPCI UPI in a convenient and seamless manner. 

This new service has been launched in view of the growing appetite for high-value IPOs among Indian investors and comes at an ideal time, right ahead of the much-awaited LIC IPO.