Geojit Financial Services Limited, one of the leading investment services companies in India, has rolled out a facility for investors to invest in initial public offerings (IPOs) through WhatsApp.
Geojit offers end-to-end support on WhatsApp to simplify the process of applying for IPOs for its customers. The key feature of the service is an embedded option called e-IPO which allows investors to navigate the IPO application process with ease and convenience. To be precise, Geojit's customers can subscribe to any IPO through WhatsApp chat window without the need to open or log in to any other app, during the application process.
Developed by Geojit Technologies, the WhatsApp channel offers convenient stock trading and mutual funds investment experience with user-friendly features, valuable market insights and robust safety framework.
Jayadev M. Vasantham, Chief Digital Officer of Geojit, said, "The launch of IPO service is a part of our continued efforts to offer outstanding digitally-enabled investment facilities to our customers. Our WhatsApp-integrated IPO service brings the IPO application process to the fingertips of our customers, offers excellent accessibility and digital investment experience to all investors. In addition, the IPO application can be completed in a few minutes without leaving WhatsApp chat window."
All customers having a valid UPI (Unified Payments Interface) ID and using any of the standard UPI-enabled mobile application can make use of this service.
The WhatsApp-based service is expected to act as a great IPO-investment enabler for Geojit customers at a time when India's IPO market has been on a roll with more and more companies hitting the primary market to raise capital. The IPOs frenzy of 2021 is expected to continue in 2022 as well, with the big-ticket LIC share sales expected to push the overall mop-up from the primary market.
Shares of Geojit Financial Services Limited was last trading in BSE at Rs. 62.70 as compared to the previous close of Rs. 64.40. The total number of shares traded during the day was 44684 in over 296 trades.
The stock hit an intraday high of Rs. 66.80 and intraday low of 62.10. The net turnover during the day was Rs. 2833916.00.