During the initial public offering season, the Paytm Money Paytm Wealth Management Division has announced the launch of the feature that will allow users to submit an IPO before the opening of the actual IPO in the market expected to significantly increase retail user participation in the process.
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” application feature has been specifically designed to target these users.
A user can now order an IPO recorded on the paytm system, and sent to an exchange for processing every time an open IPO.
Users are informed about the status of their applications throughout the trip, to ensure a smooth experience.
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.
There is also a problem of congestion in the network experienced by several market participants during popular IPOs, driven by high demand during a short time span. 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.
“Interest in the IPO has surged over the past few months, and we have seen cases where users miss applying because of problems such as tight schedules during market hours, and delaying processing led requests in the market. We want to make our users easier and Ensure that they do not miss good opportunities, “said Varun Sridhar, CEO of paytm money.
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