IIFL Securities launched ‘OneUp,’ India’s first primary markets investment platform for IPOs, non-convertible debentures (NCDs), and sovereign gold bonds (SGBs), among other things.
According to the brokerage, IPO applications are accepted on the OneUp platform 24×7, up to three days before the IPO bidding commences. Another distinguishing element of the OneUp platform is that it allows investors to put bids on behalf of others, such as friends or family members, potentially increasing the chances of allotment.
Customers of IIFL Securities and non-IIFL Securities can use the platform without signing up.
Commenting on the OneUp product launch, Nandkishore Purohit, the chief digital officer at IIFL Securities, said, “Today investors go to multiple websites to gather facts and recommendation (subscription status, company health, experts view, listing gains) about the IPO, followed by transaction on a separate platform. Through OneUp, investors can now discover, research, transact and manage new investment opportunities, all on one single platform.”
Furthermore, online orders are not restricted to amounts of up to Rs. 2 lakh. Online IPO bidding for more than 2 lakh can be done in real-time. ASBA forms will be pre-filled for users. Investors will be able to examine live IPO subscriptions, application status, and payment status of bidding with prospects of listing gains, as well as all previous primary applications and their positions in one place with only one click.
Easy tax filing with Quicko, GoCharting and TradingView integration for better customer trading experience on charts with one click, ETFy providing curated ETF baskets based on solid fundamentals, basket investing through multiple partners such as Smallcase and WealthDesk and global equity investment through Stockal, and options house to make options trading easier for first-time investors are just a few of the key digital initiatives.
IIFL Securities has over 23 lakh customers and handles over Rs.1.32 lakh crore assets. The daily trading turnover of IIFL Securities is ₹83,500 crore.