Religare Broking Ltd., a leading financial services firm has introduced a new feature in the IPO Application process on their 'Dynami' platform. Highly convenient and easy for investors, the feature allows investors to apply and submit their application before the issue opens and at any time, 24x7 during the IPO period.
The option to pre-apply on upcoming IPOs shall be available 2-3 days before the start date of the public issue. Aditya Birla Sun Life AMC will be the first IPO for pre-application and will start from 27th September 2021. The application gets saved in the server and are pushed on the day of the IPO for bidding. Customers will also receive notifications once the bids are placed on the exchange. Applying 24X7 during IPO session is designed for investors who wish to apply either pre or post market hours. As per SEBI regulations, the bidding for IPO shares at the stock exchange is open from 10 AM to 5 PM when the IPO is open for the public. Thus, the new features are launched to encourage the participation of retail investors at their own convenience.
Currently the users of Dynami platform have access to place the BID, but soon the same will be made available to other customers who do not hold a trading account with Religare Broking Ltd. Both the newly designed features are available on Mobile App - Dynami with no additional charges.
Announcing the latest features of Dynami platform, Gurpreet Sidana, Chief Operating Officer Religare Broking Ltd. said, "The surge in retail investors interest to participate in markets is witnessing new benchmarks. Investor schedules, busy work life, and sometimes paucity of period leads them missing out on application processes. Introduction of Religare Broking's new IPO application feature gives an upper edge to investors to gain momentum of the economy with ease of access anytime."
Shares of Religare Enterprises Ltd was last trading in BSE at Rs. 181.25 as compared to the previous close of Rs. 181.95. The total number of shares traded during the day was 182233 in over 2408 trades.
The stock hit an intraday high of Rs. 185.4 and intraday low of 175.5. The net turnover during the day was Rs. 32752085.