Upstox users can now pre-apply and apply for IPOs via WhatsApp. This is a first-of-its kind industry feature and here is a step-by-step guide on how to use it:
Step 2: Confirm your number by selecting ‘Yes, proceed’ or if you wish to change your number click ‘No, change no.’
Step 3: Now verify by entering the 6-digit OTP sent to your number
Step 4: We will now send details of the latest IPOs. Select the IPO which you want to pre-apply/apply to from the list
Step 5: Now, to proceed, select ‘Apply now’ and if you wish to see other IPOs select ‘View other IPO’
Step 6: You’ll now be asked to enter the price at which you want to place your bid. We recommend bidding at the cut-off price as any bids lower than the cut-off price are unlikely to get an allotment if the IPO is oversubscribed
Step 7: Now select how many lots you want to apply for between 1-9 from the list. Incase if you wish to select more than 9 lots click on ‘more’ and mention the maximum lots from the given range.
Step 8: You will now get to see a summary of your bid details. To move ahead, select ‘Proceed’ or if you wish to change something select ‘Change bid’
Step 9: Next, you will need to enter your UPI ID
Step 10: Select ‘Accept & proceed’ to submit your IPO application or ‘Decline’ if you change your mind and do not wish to apply for the IPO
Step 11: You can now check your application status from the WhatsApp chat anytime.
To watch the IPO process on Whatsapp, see the video below:
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out IPO application, demat account opening services on WhatsApp. How to use
service is available for all investors registered with Upstox, as well others who don’t have an account with the trading platform
Upstox said it will provide end-to-end support for IPO applications via WhatsApp and empower customers by easing the process of account openingTrading platform Upstox has initiated WhatsApp-based services for investors to apply for initial public offerings (IPO) and open demat accounts. Upstox provides end-to-end support for IPO applications via WhatsApp, empowering customers by easing the process of account opening.
The company claimed to have grown its consumer base by 1 million in October 2021 alone, taking the total customer base to over 7 million, adding that it intends to increase its customer base to 10 million by the end of FY2022.
Available for all investors, whether they Upstox customers or not, the IPO application service on WhatsApp will allow investors to subscribe to any initial public issue without moving out of the chat window at any point during the application process. With this integration, Upstox aims to achieve a five-fold growth in IPO applications.
“This integration would serve as an enabler for novice investors and make investing an easy, accessible and effortless experience. With a huge uptick in IPOs and investors rushing to invest in IPOs, we see this as an opportunity to encourage more investors to open an account and invest through Upstox,” said Upstox co-founder Shrini Viswanath.
Upstox clarified that no documents will be uploaded over WhatsApp and no documents will be sent as an attachment over the chat.