Unizon Fintech announced the launch of a new digital platform to deal in unlisted shares in a more effective and efficient way.
The platform shall show transparently the prices at which shares are traded in the market in an unlisted market where there is no proper price mechanism and shares are sold at different prices from different shareholders. This shall give a fair idea of the prices of unlisted shares at which they are being traded. Also, new features on the platform have been introduced to represent the market depth of a particular share to give investors a better idea of pricing of unlisted shares.
Another key feature of the platform is the presence of trustee verification for every transaction done on the platform. Unizon has appointed a trustee who shall verify every transaction entered on the platform. The trustee shall ensure that every user who buys shares from Unizon receives the shares. The trustee shall also ensure that if any shareholder sells his shares to Unizon, he receives the due consideration.
Other features, the platform include digitalising the user KYC process, payment process, e-mandate functionality, etc. The platform has also promised a mobile app for both Android and iOS users in the near future, which will further enhance the accessibility of the platform.
The private market in India is at an all-time high as the number of startups continues to increase and expand. Government initiatives like Startup India & Make in India have given a boost to the economy. Unizon is an initiative to act as a catalyst in this process. The platform seeks to reduce pricing inconsistencies and enhance trust and security in the current trading systems.
The platform shall also have a modern and simple UI, which is expected to provide ease to users and make the unlisted share trading process seamless. Unizon shall also have the financial insights, ratio analysis, news, and other information of companies that are available on the platform. This will help users take informed decisions before transacting on the platform. It is currently available in the web version only, but accessible from any device.
