One97 Communications Limited (OCL), which owns the Paytm brand, India’s leading digital payment and financial services company, has announced that it is a wholly owned subsidiary. Paytm Money Limited (PML) Has introduced pre-open IPO feature for the future LIC IPO. This means users will be able to apply for an upcoming IPO before the due date. Investors who want to subscribe to the IPO can apply through it Paytm Money. They can even do it now and don’t have to wait to open an IPO for subscriptions using Paytm Money’s pre-open IPO application feature.
The issue will be open to the general public for subscription from May 4 to May 9. The 5-day subscription period is unique because for most IPOs this period is usually 3 days. The price band of the IPO has been fixed at Rs 902-949. The company is also offering free demat accounts for new investors.
How to apply through pre-open IPO feature
May 4 IPO opening hours for subscriptions, official application hours from 10 a.m. to 5 p.m., Paytm Money LIC has enabled pre-open feature for IPO. The pre-open application will be recorded on Paytm Money’s system and sent to the exchange for processing whenever the IPO opens.
Steps to apply:
1. Go to “Invest in IPO” option in Paytm Money, you will be able to view IPO with a pre-open tab.
2. Select LIC IPO
3. On the corresponding IPO screen, you will be able to see the “Apply Now” button with the disclaimer that an application submitted in the pre-open stage can only be rejected or modified if it is sent to the exchange at the time of IPO opening, select Apply Now
4. The application page for IPO will open. Here you can resize lots, add up to 3 bids and change the price. That post UPI The ID can be filled and the application button needs to be selected
5. After tapping “Apply” you will get a screen stating that the IPO is currently pre-open and the application will be sent after the IPO start date.
How to apply for IPO when opening subscription through Paytm Money app
* Go to IPO section on Paytm Money’s home screen.
* The LIC IPO option will be available in the ‘Current and Upcoming’ tab among the IPOs.
* Once you click on the option you will see the ‘Apply Now’ button which will take you to the bid page. On this page, you can update the price and amount for your application.
* In the ‘Add UPI details’ section, update your UPI ID and click ‘Apply’
How to apply through Paytm app
Users can also apply for IPO through Paytm app.
In the ‘My Paytm’ section of the Paytm app, users will be able to find the ‘Paytm Money’ option on the right.
Existing users can click on that option and launch their application from there as described above.
Users who are not registered with Paytm Money can verify KYC in a few simple steps and proceed with the IPO application step.