Mumbai: Surging interest in IPOs has prompted Paytm Money to add a new feature in its digital brokerage platform.
On Monday, Paytm Money announced having started pre-Open IPO applications.
Paytm Money believes that the interface will help retail investors book positions well in advance of the markets.
Currently, retail users are able to subscribe to lots available for subscription only during 3 days of trading window. With the new feature, users can place a request on the system for subscription.
An official spokesperson from Paytm Money was quoted as saying in news reports that the interest in IPO markets has surged and many investors missed out on the possibility to invest or subscribe owing to systemic issues and delays in the short trading window.
Besides subscription, users can also check the live subscription figures from the interface.
The first IPO that Paytm will empower users is Zomato.