Yes, Upstox allows all investors whether they have a Upstox Demat Account or not to subscribe to an IPO through WhatsApp. However, you must have a Demat account with another broker so that allotted shares will be transferred into your Demat account. The process for non-Upstox users to purchase IPO on Whatsapp is stated here below:
- Send Hi on the 9321261098 Whatsapp number and click on the “IPO” option.
- Confirm your mobile number and enter OTP sent on your mobile.
- Now, Upstox will ask you to open a Demat account or offer an option to Apply without Upstox Demat.
- Click on the “Apply for an IPO” option and select your choice of IPO.
- Enter your e-mail address, PAN card details, and tap on the “Continue” option.
- Now, select your Demat depository (CDSL or NSDL) and enter a DP ID number. CDSL Demat holders need to enter a 16-digit Demat account number whereas NSDL Demat account holders have to provide an 8-digit DP ID and client ID as well.
- Select the IPO cut-off price and bid lot and then tap on the “Proceed” option.
- Enter UPI ID address and then click on the “Accept & Proceed” button to place your bid successfully.
- You can now check your IPO application status anytime on WhatsApp chat.
