Here’s how you can pre-apply for upcoming IPOs of Nykaa, PolicyBazaar and Paytm

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Here’s how you can pre-apply for upcoming IPOs of Nykaa, PolicyBazaar and Paytm
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  • Several investment platforms including Paytm, Groww, and Upstox allow investors to pre-apply for the IPO and not miss out on exciting bids.
  • Nykaa and PolicyBazaar are all set to open their IPO bids in the next few days.
  • Check the latest updates on Business Insider
To save you from the hassle of remembering the exact initial public offering (IPO) dates and not missing out from any exciting IPO bids, several investment platforms have started offering ‘pre-apply’ options.

Paytm, Groww, Upstox, Angel One and ICICIdirect are some of the investment platforms offering options to apply for the IPO in advance.

Pre-application for an IPO is a way to apply for IPOs before they go live and are open to subscribe for three days. Here, the system stores the pre-IPO bids and later when the IPO is live, it submits the application. This way you do not have to remember dates of IPOs and bid for it beforehand.

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The upcoming IPO worth using this feature are Nykaa, PolicyBazaar, Fino Payments Bank and Paytm.

Currently, you can pre-apply for Nykaa’s IPO, which starts from October 28 and closes on November 1. Policybazaar IPO starts on November 1 and November 3.

At present, the investors can apply for an IPO only when it opens for a three-day period. A lot of investors, especially those who do not trade actively, miss the opportunity to invest in an IPO due to stringent timing, network issues and server glitches.

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Once a pre-order is placed, investors will be notified on every step of the IPO application process like unified payments interface (UPI) mandate, request to block the IPO application amount and successfully place your bid.

To pre-apply for an IPO on Upstox, follow these steps:

(Steps to pre-apply would be similar in all investment apps)

  • Login to Upstox using your 6-digit Pin or Biometrics and visit the IPO page under the ‘Discover’ tab.
  • Click on the pre-apply option on the page.
  • Check the detailed information of an IPO.
  • Fill in the required details and click to continue.
  • Pre-application for IPO will be created and you will see a UPI mandate message stating the date on which you will receive UPI mandate notification to block your bid amount.
  • Check your Pre-apply IPO application under My IPO section.
  • In case you want to delete your pre-application of an IPO, click ‘View More’ under ‘My IPO’ where you will be able to see the ‘Delete Application' option. You can delete your pre-IPO application anytime before the IPO closes.
Here are steps to pre-apply for an IPO on Groww:

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  • Log in to your net banking account using your customer ID and password.
  • Go to the request tab on the left side of the screen.
  • Scroll down and find the IPO/Rights Issue option.
  • On the next screen you will see a list of IPOs and rights issues live. Click on ‘Apply’ for the IPO you want to apply for.
  • The next screen will ask for information regarding the number of shares you want to bid for, your bid price, date of birth.
  • Once you proceed, you will be asked to confirm the amount to be blocked from your account, agree to necessary terms and conditions and submit the IPO application
SEE ALSO: Nykaa’s IPO to open tomorrow — check last date, listing date and more PolicyBazaar’s parent to open its ₹5,700 crore IPO on November
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