Paytm Money introduces features that enables users pre-order IPOs

On the ground of the introduction of the feature, the digital broker suggested that this is expected to ‘significantly increase the participation of retail users in the IPO via its platform.”

Advertisement

Paytm Money has introduced a feature that enables users to apply for initial public offers before the subscriptions begin in the markets.

On the ground of the introduction of the feature, the digital broker suggested that this is expected to ‘significantly increase the participation of retail users in the IPO via its platform.” It added, Zomato is the first IPO launched along with this feature.

Paytm Money through a blog informed that the pre- IPO open application feature was specially designed to ensure the lives of such users better. Further, a user can place an IPO order 24*7 on the days when the ‘pre-open IPO application’ feature is enabled.

The blog explained that the order is recorded on Paytm’s money system. It is then sent to the exchange for processing whenever the IPO opens. The user’s application status is kept notified throughout the journey to make sure a seamless experience, as per the blog.

The digital broker further pointed the issue of congestion in the servers or networks during the popular IPO’s, due to vast demand in a short period of time. “As this feature gains traction, it might be possible to spread out the Pre-open IPO Application evenly during the market hours, reducing loads on exchanges and payment gateways, and ensuring a better experience for broad market participants.”, it added.

Paytm Money affirmed that it has also initiated other advanced features to provide “the most comprehensive IPO application experience to its users.”

CEO of Paytm Money, Varun Sirdhar stated, “Interest in IPO 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.” He expressed that they wanted to make the lives of their users easier and ensure that the users don’t miss out on good opportunities.

Steps to apply for IPOs on Paytm Money : 

-Users can enter their bid details or quantity, price, and the number of bids, and then submit UPI ID once their KYC is completed.

-The users will have to accept the ‘Block Funds’ request on the UPI app.

-Once allotted, the final amount will be debited, or else it will be unblocked.