Paytm Money announces a brand-new feature for IPOs – Pre-Apply

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Paytm Money announces a brand-new feature for IPOs – Pre-Apply          


Paytm Money has upped the game in the IPO Application process.



Now apply for IPOs even before they open through Paytm Money

          Retail IPO investors holding a Demat Account with Paytm Money have access to a brand-new feature on Paytm Money i.e “Pre-IPO Open application”

In In the near future, the same feature may be replicated by other Brokerage houses. However, the first-mover advantage will always go to Paytm Money.

          The “Pre-IPO Open application” in brief works as below:

·        A user can now place an IPO order 24x7 on days when the “pre-Open IPO Application” Feature is enabled.

·        The order is recorded on Paytm Money’s system, and sent to the exchange for processing whenever the IPO opens.

·        The user is notified of her application status throughout the journey, to ensure a seamless experience

 

The pre-Open feature is designed to attract investors who desire to avoid the hassles of applying for an IPO only during the select market hours over a period of 3 days.

     Under “Pre-IPO Open application”, the Paytm Money backend servers will store the data until the respective IPO window on the stock exchanges open and then push the data to the exchange.

     The “Pre-IPO Open application” feature is specifically designed to make the lives of users who have decided 100% to apply to the respective IPOs.

     The honor of the first IPO to debut on this Paytm Money goes to Zomato.

     As this feature is adopted by other Stock Brokerages too, it is expected to lessen the pain associated with network/server congestion on the respective channels during popular IPOs.

 

Quote

Varun Sridhar, CEO of Paytm Money said, “Interest in IPOs has surged over the last couple of months, and we have seen cases where users have missed out from applying because of issues like tight schedules during market hours, and demand led processing delays in the markets. We wanted to make the lives of our users easier and ensure that they don’t miss out on good opportunities.”

Unquote

          The only requirement for prospective investors is that they should have a Demat Account with Paytm Money. The investors can hold a bank account with any bank on UPI enabled IPO platform. This is another wonder of UPI.  

          So, go ahead folks, and make the most of Paytm’s “pre-Open IPO Application” feature

          The price band of Zomato Ltd is INR72/- to INR76/- .

          The minimum application lot is 195 shares

          The minimum application amount ranges from INR14,040/- to INR14,820/-

Read more about this new feature on Paytm Blog @ https://blog.paytm.com/now-apply-for-ipos-even-before-they-open-through-paytm-money-19737fb2b1f0

 

Disclaimer:  This is my personal opinion only. The bottom line is Mission #LessCashNotCashLess. Nothing more - Nothing less. 

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