NEW DELHI: IIFL Securities on Friday launched ‘OneUp’, India’s first primary markets investment platform for investing in initial public offerings (IPOs), non-convertible debentures (NCDs) and sovereign gold bonds (SGBs), among others.
As per the brokerage, on the OneUp platform, the IPO applications are accepted 24×7 and up to three days before the IPO bidding opens. Another unique feature of the OneUp platform is that it allows investors to place bids for others as well, be it, friends or family members, which can increase chances of allotment.
The platform is available to both IIFL Securities and non-IIFL Securities customers without any signup requirements.
Commenting on the OneUp product launch, Nandkishore Purohit, 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.”
Further, the online orders are not limited to ₹2 lakh only. Real-time online IPO bidding for an amount greater than ₹2 lakh can be executed. Users will get prefilled ASBA forms. Investors can view live subscription of IPO, application status and payment status of bidding with chances of listing gains and will be able to view all the previous primary applications and their statuses in just 1 click at one place.
Some of the key digital initiatives include hassle-free tax filing using Quicko, GoCharting and TradingView integration for better customer trading experience on charts with one click, ETFy providing curated ETF baskets based on strong fundamentals, basket investing through multiple partners such as Smallcase and WealthDeskand global equity investment through Stockal, and option house to ease options trading for first time investors.
IIFL Securities manages assets worth over ₹1.32 lakh crore and has over 23 lakh customers. IIFL Securities has a daily trading turnover of ₹83,500 crore.