Paytm To Next Venture Into Shares Trading

After the new mutual fund spree, the payments company is now all set to apply for a license for stock brokerage license in next two weeks with either of the two exchanges as per a leading business daily report.

For the mutual fund business via Paytm Money app the company is targeting some defined set of customers primarily from smaller towns and cities to render financial inclusion for all.

Ashishkumar Chauhan, chief executive officer at BSE, said: "If they wish to apply for a broking licence, we would be delighted to welcome them."

If the company happens to bag the stock broker license through its product portfolio the company will be able to offer direct equity, commodities and derivatives instruments.

The Paytm's entry into the domain is likely to spearhead new set of investors with lack of household savings still channelized into the instrument. Brokerage houses such as Zerodha also view the payments company to bring in fresh new investors because of their captive customer base.

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