Here’s how you apply for an IPO through Paytm Money
Investors in the Indian stock market represent a huge appetite for Initial Public Offers (or IPOs). With IPOs, most companies have expansion plans, therefore as their business skyrockets, so do your investments. Instead of buying stocks after the company showcases its success story, you get to be a part of one.
Some of the successful IPOs of 2020 were SBI Cards, Rossari Biotech, Happiest Minds, and CAMS among others.
If we look at SEBI filings, it is expected that some of the leading brands like Grofers, Barbeque Nation, Kalyan Jewellers, and JSW Cements may come up with their IPOs in this financial year.
Paytm Money has introduced an IPO feature in its app and website where you can apply for IPOs through a fully digital process. Even the payments are done digitally via UPI, therefore, you can now say goodbye to cheque and cash payments.
Here how you can for IPO through Paytm Money
- Log in to the Paytm Money app and complete your fully digital KYC for stocks, if not done already.
- Once your details are verified and the Demat account is created, click on the IPO section on the home screen.
- You will then be able to see a list of past and upcoming IPOs, where you can apply for IPOs that are open for applications.
- IPO Application Step 1 – Add details for bidding such as quantity, amount, and so on. Maximum 3 bids are allowed.
- IPO Application Step 2 – After that, you have to enter UPI id so that the funds of your highest bid are blocked. You will receive a mandate for the same on your UPI app.
- IPO Application Step 3 – Once you accept the mandate, your application will be successfully submitted.
- Once the allotment happens, you would be notified about your allotment status.
Now you can apply for IPOs with a fully digital application process on the Paytm Money app and website, just keep your UPI id handy and you are good to go.