New Delhi: Leading Paytm Paytm Paytm Money on Monday announced the launch of innovative features that allow users to apply for initial sales before the opening of the actual IPO on the market.
This step is expected to significantly increase retail user participation in the initial public offering (IPO) through the process.
Zomato is the first IPO on paytm money launched with this feature, and thousands of applicants on the platform have placed their orders for the past two days, said digital broker in a statement.
The conventional application process for IPOs is designed around Timing, and to date, users can submit IPOs only during certain market hours for three days.
Most investment communities do not trade actively, and are likely to be busy during market hours, losing some of these IPOS.
This is especially true in the case of millennium and young investors.
The “Open Pre-IPO” feature is specifically designed to make the lives of users like that better.
A user can now place an IPO 24×7 order in the days when the “Pre-open IPO application” is activated.
Orders are recorded on the paytm money system, and sent to exchanges to be processed every time the IPO is open.
Users are informed about the status of their applications throughout the trip, to ensure a smooth experience.
There is also a congestion problem on the server or network experienced by several market participants during popular IPOs, driven by high demand during a short span of time.
Because this feature gets traction, it is possible to spread the pre-open IPO application evenly during market hours, reducing the burden on exchange and payment gateways, and ensuring a better experience for wider market participants.
“The interest in the IPO has surged over the past few months, and we have seen cases where users do not miss out of applying because of problems such as tight schedules during market hours, and demanding delays in processing LEDs on the market,” Varun Sridhar, CEO of paytm money, said.
“We want to make our users easier and ensure that they don’t miss the good opportunities,” he added.
Paytm’s money said it had also launched a set of other advanced features in the offer to offer the most comprehensive IPO application experience to its users.
Users on paytm money can now complete the IPO application with one click, apply through the shareholder category, and also track the IPO subscription number directly.