How To Apply For An IPO As An HNI Investor2 min read
Paytm Money is here with another amazing feature! You can now apply as an HNI investor in IPOs via Paytm Money.
Currently, customers can apply upto 2 Lakhs in Retail via UPI mode on Paytm money. HNI Flow requires Bank Account ASBA flows.
Customers have to apply on their online bank website for HNI and this feature is not available in any of the broking apps currently.
This HNI feature on Paytm money is available for Axis Bank customers only currently. We have tied up with Axis Bank for launching this product. If you have an Axis Bank account, then you can apply under the HNI category. We hope to provide this feature to other bank customers soon.
Important info about HNI investment in IPO
– The minimum investment amount in this category is INR 200,000.
– You can apply as either via Retail (< 2 Lakhs – UPI flow) or HNI investor (Bank ASBA). You can’t apply in both of the categories.
– Cancellation or modification is not allowed in HNI applications currently.
Follow these steps to apply
1. Go to the IPO section, select the IPO you want to apply for
2. In the IPO details page, choose HNI category
3. You will see a detailed writeup about the investor type
4. If you have not linked your Axis Bank account to Paytm Money, then you can do that using the PML app
5. If Axis Bank account(s) is(are) already linked, you will see the account(s) upfront
6. Select the bank account from which you want to block funds from
7. Click on Apply Now to go to bid details page
8. You can input your bid(s) on this page and click on Apply
9. You will be redirected to the Axis Bank page for login
10. Once logged in, you will see the details of your bid
11. You can approve your mandate by inputting the OTP received on your mobile number and click on Confirm
12. At this point, your mandate will be blocked and you will be redirected back to PML page
Axis Bank will be sending the applications to exchange and we will show the updated status of the application once that is done.
You can track the status of your HNI Applications on the Paytm Money app in the HNI tab under My Applications.
Do check it out and let us know your feedback!
Disclaimer – Investment in securities market are subject to market risks, read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory.
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