Leading digital brokerage company Paytm Money on Monday announced a new and innovative feature. Through this feature, users of Paytm Money will be able to apply for that offer before the launch of any IPO in the market. In a statement issued by Paytm Money, it has been said that the company has started this feature with the IPO of food delivery platform Zomato. According to Paytm Money, thousands of applicants have already applied for Zomato's IPO through this platform in the last two days.
Paytm Money expects to see a significant increase in the participation of retail users applying for Initial Public Offer (IPO) through this feature.
The new system will prove to be convenient for such people
Under the traditional application process of IPOs, users could apply for an IPO during a specific market period, usually up to three sessions. There are also a large number of investors who are not actively trading and are busy with other activities during market working hours. In such a situation, they were not able to apply in some IPOs despite their desire. Paytm Money says that the "Pre-IPO Open Application" feature has been introduced to ease the way for such users to invest.
This is how this system works
Paytm Money said that after enabling the option of the "Pre-IPO Open Application" feature, users will be able to place their IPO order 24x7 i.e. any day and any time. After you place the order, it will be recorded on Paytm Money's system and will be sent to the exchange for processing whenever the IPO opens. Users can also track the status of their application. This will give them a smooth experience.
After the opening of popular IPOs, some investors also have to face issues related to congestion in the server or network. This is because the demand is very high in a very short period of time.
Varun Sridhar, CEO, Paytm Money said, “In the last few months, public interest in IPOs has increased and we have come across such cases when there is no time during the working hours of the stock market and the demand is high. Due to delay in processing in the market, people were not able to apply for IPO.
“We want to make life easier for our users. Also want to make sure that not a single great opportunity is missed from them.
Paytm Money users can now complete their IPO applications with just one click. Also, they will be able to track the live statistics of IPO subscriptions.