One 97 Communications, the parent company of the country’s largest digital payment platform, Paytm, got listed on the stock market today. The shares of the company were listed on the stock market with a discount. It was listed on BSE with a discount of Rs 1955, i.e., 9.07 percent. Its issue price was Rs 2150. That is, the investor had a loss of Rs 195 per share on one share. The company’s stock was listed on the NSE at Rs 1,950 with a discount of 9.3 percent. Also Read - Using Paytm Transit card you can travel in metro, bus, train and more cashless
As a first-time investor, here are a few things to keep in mind before buying Paytm shares and steps to open a Demat account on Paytm. A Demat account is where all the shares that you buy are stored in electronic format. Such an account holds all investments, including government securities, shares, ETFs, mutual funds, and bonds, in electronic form for ease of use. Also Read - Ola reportedly looking to launch IPO early next year: Details here
Demat account facility offered by depositories like NSDL (National Securities Depository Limited) and CDSL (Central Depository Services India Limited) in India. These Demat services provide the facility of charging depending on the depository participants, intermediaries, or stockbrokers, the volume in the account, and the type of subscription. Also Read - Paytm IPO opens today: Check when and how to apply online
Here are steps to open a Demat account on Paytm Money
STEP1: Verify your pan card details
STEP2: Add address proof (Aadhar Card) details
STEP3: Submit your bank details
STEP4: Give an e-signature to AOF (account opening form)
STEP5: After submitting all the necessary details, Paytm Money’s KYC team will further open a Demat account.
STEP6: Once the KYC process is done and your Demat account is in place, you can officially start investing in inequities.
There are several other platforms through which you can open a Demat account. These platforms are Upstox, which is a Mumbai-based discount broker company that charges a flat Rs. 20 per order irrespective of the trading amount. The platform also offers zero brokerages on Digital Gold, IPO, and Mutual Funds.
Another name on the list is Zerodha, a Bangalore-based discount broker company that charges a Flat Rs.20 or 0.03% per order. Additionally, it charges Rs 300 for account opening.
You can also open a Demat account through ICICI Direct. It offers discount brokerage services similar to Zerodha and Upstox. You only have to pay Rs. 20/ trade for intraday and futures trading. In addition, ICICI Demat account maintenance fee is Rs. 300 per year from the 2nd year onwards, which makes it cheaper than many other options.