Geojit launches IPO application facility via WhatsApp
In the last few years, applying for an IPO with your trading account has almost become like a breeze. The IPO allotment process and the listing dates have been substantially compressed and everything is automated and digitally driven. Amidst these slew of changes, broking firm Geojit is now offering an end-to-end IPO investment and application solution on WhatsApp. This is expected to substantially simplify the process of applying for IPOs for its customers.
Geojit Financial Services has just rolled out a facility where investors will be enabled to invest in initial public offerings (IPOs) through WhatsApp. Of course, the IPO market may be in a lull for the time being but it is expected that once the LIC IPO is announced, the markets could see renewed enthusiasm. Many potential issuers waiting in the side lines could rush in to complete their IPOs. That is when this facility would really add value for investors.
Here is how the WhatsApp facility on Geojit IPO app will actually work. The key feature of this service would be an embedded option called e-IPO. This option will allow investors to navigate the IPO application process with ease and convenience. Registered trading and demat customers of Geojit can now subscribe to any IPO through the WhatsApp chat window. No other online application will be required for the IPO, other than WhatsApp.
This entire embedded option has been internally developed by Geojit Technologies. If you click on the e-IPO option in the app, the WhatsApp channel will open which will offer you convenient stock trading and mutual funds investment experience. Most of the user interfaces (UI) have been reportedly designed in a user-friendly fashion by combining lateral features like market insights, research, ideas, safety framework and the call to action.
Ove the years, Geojit has been trying to offer digitally-enabled investment facilities to its customers and has been one of the consistent performers in the broking space based out of Kerala in a market that is largely Mumbai dominated. The WhatsApp-integrated IPO service brings the IPO application process to the fingertips of the customers, as reported by the company in its release.
The WhatsApp application facility combines speed and simplicity. It apparently offers a digital investment experience that happens on a turf that most users are familiar with already. The much bigger advantage is that the IPO application can be completed in a few minutes without leaving WhatsApp chat window. This enables greater stickiness and would be fully tested for its utility when the LIC opens either in March or in April.
The only condition to use this WhatsApp IPO investment facility is that the concerned investors must have a valid UPI (Unified Payments Interface) ID. In addition, she must be using any of the standard UPI-enabled mobile application like Paytm, GPAY, PhonePe or even any of the banking based UPI applications offered now by most of the banks. The process is expected to be simple, elegant and convenient.
For Geojit, the WhatsApp-based service is expected to act as a great IPO-investment enabler. This assumes importance at a time when the IPO markets are poised to collect record sums in year 2022 at close to Rs.2 trillion. The assumption is that the IPO frenzy of 2021 will continue in 2022 also. The first big test will be the mega Rs.70,000 crore IPO of LIC. IF that is a roaring success, then the momentum will be clearly favourable for IPO markets.
Also Read:-