Alibaba-backed Paytm gets greenlight from India's market regulator to launch stock broking services

Vijay Shekhar Sharma, Founder, Paytm.
  • Paytm’s subsidiary Paytm Money has received the approval from market regulator SEBI to start stock broking.
  • The company has also partnered with BSE and NSE.
  • Paytm’s parent company is reportedly in talks to raise funding which will take its valuation to $18 billion.
Indian fintech unicorn Paytm’s subsidiary – Paytm Money has received approval from Securities & Exchange Board of India (SEBI) the market regulator to start stock broking. With this, one can soon start buying shares through Paytm Money.

Additionally, Paytm Money has also signed a partnership with the Bombay Stock Exchange and the National Stock Exchange. In an official blog, the company wrote, “We will be introducing new capabilities & offerings on our platform, such as trading in equities & cash segments, derivatives, ETFs and exchange traded products.”

Paytm Money currently offers its users mutual fund investments and had reportedly applied for license for stock broking in October 2018. The company, which has 300 million registered users, will then be able to offer shares and trading to a large number of people, through their phone.

While the feature is not live yet, the company is building a reliable platform and is also working on “integrations with both exchanges and depository”.

Paytm’s parent company One97 communications has been growing its business through multiple verticals. Be it Paytm Money or the troubled Paytm Mall, the company has been bullish about its growth trajectory.

There are reports about One97 communications raising its next round of funding for $2 billion which will take the company’s valuation to $18 billion. Japanese investment firm Softbank and Chinese giant Alibaba are both major investors in Paytm, with 19% and 38% stake respectively.

See Also:
Paytm is competing with almost everyone in Indian e-commerce
After 7 years in India, Amazon has finally learnt that there is more money offline
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