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CDC makes IPO subscription easy for general public through automation

 April 22, 2019  /   Blog  /   no responses  Comments

In its continuous resolve to increase convenience for stock market investors, Central Depository Company is taking regular initiatives to provide ease and efficiency for the subscription of shares offered through IPOs to general public.

These efforts were translated recently in the successful subscriptions of the IPO of Interloop Limited which took place on March 21st and 22nd, 2019. Investors had the options of physically submitting the IPO applications at designated banks or using Electronic IPO portals of designated Banks or using Centralized eIPO System (CES) of CDC. CES is an online portal, with 24/7 availability and global accessibility and is connected with all leading banks. CES became the premium choice of investors, as 2283 investors subscribed shares through CES, which makes it around 80 percent of all electronic subscriptions in the Interloop IPO and around 43 percent of total subscriptions (both physical and electronic).

This was also the first time that CDC introduced the IPO facilitation Account, an additional facility through which investors can subscribe securities even if they do not have CDC Account at the time of IPO subscription. The investors can later open their accounts and get their securities transferred in their respective accounts until which these securities will be in the safe custody of CDC. This facility was introduced with the objective of facilitating new investors and encouraging maximum participation of retail investors in the IPO. Around 900 new investors participated in the Interloop IPO through this facility, which is a testament of the success of the pilot phase.

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