Paytm Money users can now apply for pre-IPOs

The move is expected to significantly increase the participation of retail users in initial public offer (IPO) through the process. 

Zomato is the first IPO on Paytm Money launched with this feature, and thousands of applicants on the platform have already placed their orders over the last two days, the digital brokerage said in a statement. 

The conventional application process for IPOs was designed around timings, and till date, users are able to apply for an IPO only during select market hours over a window of three days. 

A large proportion of the investing community does not trade actively, and is likely to be busy during market hours, missing out on some of these IPOs. This is particularly true in case of millennials and young investors.