New Delhi: Investing platform Upstox on Wednesday announced that it will allow users to invest in initial public offerings (IPOs) through social media application WhatsApp.
"The key highlight of the latest feature is that all investors, whether they are registered with Upstox or not, can now subscribe to any IPO, without moving out of the WhatsApp chat window at any point during the application journey," the company said.
With this integration, Upstox said it aims to achieve a five-fold growth in IPO applications.
Shrini Viswanath, Co-Founder, Upstox, said, "With an aim to further strengthen our customer base in deep India and encourage more millennials to invest, we have integrated with WhatsApp, which is being widely used by users across the country. 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."
Steps For Investing In IPOs With Upstox Through WhatsApp:
* Say ‘Hi' to WhatsApp Chat BOT ‘Uva' on the official Upstox WhatsApp number - 9321261098.
* Using WhatsApp Chat BOT ‘Uva', click on ‘IPO Application'.
* Enter the registered mobile number and OTP (One-time password).
* Click on ‘Apply for IPO.
* Select the IPO which you want to subscribe.
Upstox is also offering demat account opening via the social messaging platform.