Upstox rolls out IPO application, demat account opening services on WhatsApp. How to use

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

The company claimed to have grown its consumer base by 1 million in October 2021 alone, taking the total customer base to over 7 million, adding that it intends to increase its customer base to 10 million by the end of FY2022.

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

The process of opening demat accounts has also been made quick, easy and accessible via WhatsApp, which UpStox said will now only take minutes. Tabs such as ‘Upstox Resources’ and ‘Get Support’ will provide customers with direct access to FAQs and all the necessary information about Upstox in real time with just a click.

“This integration would serve as an enabler for novice investors and make investing an easy, accessible and effortless experience. With a huge uptick in IPOs and investors rushing to invest in IPOs, we see this as an opportunity to encourage more investors to open an account and invest through Upstox,” said Upstox co-founder Shrini Viswanath.

Upstox clarified that no documents will be uploaded over WhatsApp and no documents will be sent as an attachment over the chat. 

How to start transacting on Upstox via WhatsApp

The customer needs to connect with Upstox’s verified WhatsApp profile number, 9321261098, to his/her ‘contacts’ on the mobile phone and send <hi> to this number from his/her mobile number 

Steps for investing in an IPO with Upstox through WhatsApp

Step 1. Say ‘Hi’ to WhatsApp Chat BOT ‘Uva’ on the official Upstox Whatsapp number – 9321261098

Step 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 which you want to subscribe 

Steps for account opening with Upstox through WhatsApp

Step 1. Using WhatsApp click on ‘Open an Account’ 

Step 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 a few basic formalities and the process is complete!