Mumbai: Paytm Money allows investors to register in the upcoming bid for Zomato with a 24×7 base.
This step aims to provide comfort for those who are willing to register at the IPO but usually do not get time to do it during market hours.
Paytm’s money is an arm distribution of broking and financial assets from Paytm’s digital payment solutions.
Under service, generation of ‘pre-open IPO application’, Paytm Money customers can register in the upcoming offer for the food delivery company before the actual IPO opening on July 14.
At present, investors with a Demat account only apply in the IPO during the day offers live on the exchange platform, and it is also during the market hours – that is, between 9am and 3.30 in the afternoon.
Closing time can be extended with a few hours if there is a heavy rush application on the last day.
Investors cannot register in the IPO outside of this hour.
Under the new system, Paytm’s money has allowed its customers with a Demat account to register for Zomato IPO.
After the IPO aired on the stock on July 14, this order will be sent to the exchange.
This investor will only be needed to ratify the payment of the application money through the UPI authorization code.
The application will then be uploaded on the Exchanges server.
This process is intended to help investors who do not trade actively.
“This is especially true in the case of millennium and young investors,” said the company’s broadcast.
According to Paytm Money CEO Varun Sridhar, interest in the IPO has surged in recent months.
There are cases of investors who are lost on the application of IPOs due to problems such as tight schedules during market hours, and processing delays led by requests.
“We want to make our users find easier and ensure that they don’t miss good opportunities,” Sridhar said.