According to a Bloomberg report, a fund run by UBS’s asset management arm is in talks to buy a stake in Paytm.
- January 14, 2021, 8:37 PM IST
UBS is reportedly in talks with a group of employees of Indian fintech company Paytm to purchase the stock. According to Bloomberg, UBS wants to finalize an agreement in the month of January. However, the conversation may be delayed or separated. Both Paytm and UBS have refused to comment on the matter.
Paytm Money will offer F&O trading
At the same time, Paytm Money, owned by Paytm, said on Wednesday that it will offer futures and options trading (F&O) on its platform and aims to achieve a daily turnover target of Rs 1.5 lakh crore in the next 18-24 months. Paytm founder and CEO Vijay Shekhar Sharma said during the online offering that this platform, which provides services for shares, mutual funds, ETFs, IPOs, NPS and digital gold, will focus on providing financial services to 100 million Indians. , “Our mission is to provide financial services to 10 crore Indians and with this offer it will get faster. This product has been designed keeping in mind the users of mobile and we believe that this simple and cheap product will help in reaching small towns and cities.
(With agency input)