Upstox launches IPO application, Demat account opening services on WhatsApp

Upstox said it will provide end-to-end support for IPO applications through WhatsApp and empower customers by simplifying the account opening process.

The company claimed to have increased its subscriber base by 1 million in October 2021 alone, taking the total subscriber base to over 7 million, adding that it is looking to increase its subscriber base to 10 million by the end of FY 2022. intends to.

Available to all investors, whether they are Upstox customers or not, the IPO application service on WhatsApp will allow investors to subscribe to any initial public issue without exiting the chat window at any time during the application process. With this integration, Upstox aims to achieve a five-fold increase in IPO applications.

The process of opening demat accounts through WhatsApp has also been made quick, easy and accessible, which Upstox said will now take only a few minutes. Tabs like ‘Upstox Resources’ and ‘Get Support’ will give customers direct access to FAQs and all necessary information about Upstox with just one click.

“This integration will act as an enabler for novice investors and make investing an easy, accessible and seamless experience. Srini Vishwanath, Co-Founder, Upstox said, “With the huge surge in IPOs and the rush of investors to invest in IPOs, we see this as an opportunity to encourage more investors to open accounts and invest through Upstox. lets see.

Upstox clarified that no documents will be uploaded on WhatsApp and no documents will be sent as attachments on the chat.

How to start a transaction on Upstox via WhatsApp

The customer has to connect to his ‘Contact’ on mobile phone from Upstox’s verified WhatsApp profile number, 9321261098 and to this number from his mobile number would send.

Steps to Invest in IPO with Upstox via WhatsApp

Phase 1. Say ‘Hi’ to WhatsApp Chat bot ‘Uva’ on Official Upstox WhatsApp Number – 9321261098

Phase 2. Using WhatsApp chat bot ‘Uva’, click on ‘IPO Application’.

step 3. Enter the registered mobile number and OTP (One-Time Password (OTP) generated).

step 4. Click on ‘Apply for IPO’

Step 5. Select the IPO you wish to subscribe to

Steps to Open an Account with Upstox via WhatsApp

Phase 1. Click on ‘Open account using WhatsApp’

Phase 2. Enter mobile number (OTP generated)

step 3. Enter Email Address (OTP generated)

step 4. enter date of birth

Step 5. Enter your PAN details and the bot will direct you to the Upstox page for some basic formalities and the process is complete!