Applying for initial public offers (IPOs) could now be possible by just sending an SMS from mobile phones, courtesy a software developed by Vadodara-based Ekkay Magic.
Known as SMS IPO, the software enables an average investor to file IPO applications without filling the lengthy subscription forms.
The software works in such a way that investors already registered with stock brokers will be informed about IPOs via SMS alerts to their cell phones. All that the interested investors will have to do is to reply in a pre-defined format. The investment details received from investors and the customer information identified through their cellphone number will be captured and recorded at the stock brokers’ end.
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