How to Pre-Book Zomato IPO on Paytm Money
Leading digital brokerage platform Paytm Money on Monday announced the launch of an innovative feature that allows users to apply for an initial share-sale before the actual IPO opens in the market.
The move is expected to significantly increase the participation of retail users in the initial public offering (IPO) through the process.
The traditional application process for an IPO was devised around the time, and to date, users are able to apply for an IPO only during select market hours over a three-day window.
“A large segment of the investor community does not trade actively and is likely to be busy during market hours, some of which have been missed out on IPOs. This is especially true of Millennials and young investors in the company. The ‘Pre-IPO Open Application’ feature was specifically designed to improve the lives of such users.
Zomato is the first IPO launched with this feature on Paytm Money and thousands of applicants have already placed their orders on the platform, the digital brokerage said in a statement.
How Paytm Pre-Open IPO Application Works:
- User can place IPO orders 24×7 when “Pre-Open IPO Application” feature is enabled.
- The order is recorded on Paytm Money’s system, and sent to the exchange for processing whenever the IPO opens.
- The user will be informed about the status of the application during the IPO booking journey.
- Users can complete IPO applications with a single click, apply through shareholder category, and also track live IPO membership numbers
Read also: Paytm Money Latest Feature: Pre-Booking of IPO Allotment – How it Works
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