Another busy IPO season is upon us. The public offering of FSN E-Commerce Ventures Ltd, which operates the online marketplace for Nykaa beauty and wellness products, opened to strong demand today. A large number of IPO applicants have bid through India’s largest stockbroker, Zerodha. According to Nithin Kamath, co-founder of Zerodha, 20% of all Zomato applications were made through his brokerage firm. Zomato’s issue was a huge success and has been subscribed over 40 times.
Apart from Nykaa, the ??1,200 crore IPO of Fino Payments Bank will open tomorrow while the ??PB Fintech’s 5700 crore IPO, which operates the online insurance platform Policybazaar and the Paisabazaar credit comparison portal, will open on November 1. Paytm’s mega IPO is scheduled to open on November 8 and the company could raise up to ??18,300 crore from the sale of shares.
Remember that investors can only submit one request per PAN number. Several requests under the same PAN are rejected by the registrar which manages the allocation of shares:
How to apply for an IPO through Zerodha:
Zerodha platform users can perform an IPO using any supported UPI application. They must install the BHIM UPI application and register their UPI credentials
They must connect Zerodha console and select “IPO” from the “Portfolio” menu.
Then select the IPO you want to apply. They can also see the list of current issues.
After selecting the IPO, enter the UPI ID to confirm its validity. Make sure that this UPI ID is mapped to your personal bank account. It should be noted that the IPO application could be rejected if the person applying is different from the one whose bank account is used to apply.
Select the type of investor for your request. If you want to apply for the cutoff price, just click on the checkbox next to “Cutoff price”. If you want to place a bid at a different price, you can do so by entering a price in the “Price” field.
Once you have completed these steps, click the checkbox to confirm that you have read the RHP and other documents and click submit.
You will receive an SMS from NPCI confirming your offer and asking you to accept the mandate on the BHIM UPI application. Then accept the mandate request on your BHIM UPI application. The investor will receive an SMS from the stock exchange confirming the request.
Make sure the application number on the console (or sent by the EoD exchange on the day of your offer) matches the application number on the BHIM UPI app mandate.
If you have changed your offer, you will need to accept a new mandate on your BHIM application.
According to Zerodha’s website, the IPO window remains open from 10 a.m. to 4:30 a.m. on trading days during the subscription period. “You can accept the UPI warrant request until noon one day after the IPO window closes. If you don’t receive the UPI application by the end of the day due to delays from the bank, please delete it and apply again, ”its website says.
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