Problems on broking site Zerodha after the IPO of IRFC and Indigo Paints

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Posted on 22-01-2021 by Admin

Problems on broking site Zerodha after the IPO of IRFC and Indigo Paints

 Several users of India s largest broking site, Zerodha, reported complaints on its use on Wednesday. In fact, after the issue of the IPO of Indian Railway Finance Corporation (IRFC) and Indigo Paints on Wednesday, there was increased pressure on the site for their purchase. To this, a user wrote, "This is not the first time."

India s largest broking site Zerodha crashes due to heavy traffic caused by IPOs of Indigo Paints and IRFC

The year 2021 begins with 2 blown IPOs. The IPO of Indian Railways Finance Corporation (IRFC), the finance company of the Ministry of Railways, launched on 18 January and Wednesday was the last day to subscribe. It was oversubscribed about 3 times. At the same time, on 20 January, the IPO of Indigo Paints started with a bang. This IPO has been subscribed 3 times.

The craze for investors regarding these two IPOs can be understood from the fact that the investors of India s largest institutional broking company Zerodha s website crashed on Wednesday due to heavy traffic to subscribe to their stocks.

CEO of Zerodha gave this clarification

After the complaint of Zerodha s website not working, the company s CEO Nitin Kamat said that, the website has not crashed completely, it was slow for a while. After trying many times, people were able to subscribe to the IPO. He said that thousands of people were applying together, due to which this technical error came, which has now been fixed. Let us tell you that this problem started on Wednesday at 11.15 am in Zerodha s website and lasted till 5 pm.

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