Paytm Money started this service for users
With the pre-open IPO application, a user can place an IPO order anytime of the day. This order is recorded in the system of Paytm Money
New Delhi. Leading digital brokerage firm Paytm Money on Monday announced the launch of an innovative feature that allows its users to apply for an initial share-sale even before the actual IPO opening in the market. This new feature is expected to help significantly in increasing the number of retail users in the IPO through this process.
Paytm Money has started the IPO of Zomato with this new feature. In the last two days, thousands of applicants have placed their orders for IPOs on the platform. Under the traditional application process for an IPO, users have to apply for an IPO only during a certain market period under a certain period of time.
A large group of investors do not trade actively and may be busy during market periods, thus they may miss out on some IPOs. This often happens to young investors. To provide better service to such users, Paytm Money has introduced the Pre-IPO Open Application feature.
With the pre-open IPO application, a user can place an IPO order anytime of the day. The order is recorded in Paytm Money’s system and sent to the exchange for processing when the IPO opens. Throughout the process, the user is provided with complete information related to his/her application to ensure a seamless experience.
Varun Sridhar, CEO, Paytm Money, said that the interest for IPOs has increased significantly over the past few months and has seen problems such as hectic congestion and demand driven processing delays in the market during the market period. We want to make life easier for our users so that they don’t miss out on a great opportunity.
Paytm Money said that it has also introduced other advanced features to offer the most comprehensive IPO application experience to its users. Paytm Money users can complete IPO application with just a single click, apply through shareholder category and track live IPO subscription number.