Answer
Pre-IPO Apply in Espresso (Sharekhan) is a feature that lets investors submit IPO applications up to four or five days before the official opening date or after market hours. This means you can place your bids whenever suits you and the system will automatically send them to the exchange on the opening day.
Key features of Espresso Pre-Apply IPO include:
- Convenience: Avoid the market hour rush on opening day.
- Process: Apply via the app/website; receive a UPI mandate request to block funds within 24 hours of the actual bidding start date.
- Availability: On the Sharekhan App or Website about 4-5 days before the IPO opening.
- No Early Block: Funds are blocked only after the official subscription period begins and you authorize the mandate.
How to use the Pre-Apply feature (via Sharekhan):
- Go to the IPO section on the website or app.
- Select the IPO you want to apply for and check the “Pre Apply” option.
- Enter your UPI details and select the category (e.g., Retail, PolicyHolder).
- Submit your application.
- Authorise the mandate on your UPI app when it arrives during the official IPO period.