iStockMumbai: Users faced issues with the Zerodha app during peak market hours on Wednesday as they flocked to India’s largest retail stockbroker to subscribe to the IndiGo Paints IPO.
“For a little time, but not completely down. Multiple tries would have worked,” CEO Nithin Kamath told ET when asked about the Zerodha outage. "The IPO has a lot of people trying to apply at the same time. It is slow, but working.”
On Wednesday morning, Zerodha tweeted users can subscribe to the Indigo Paints IPO using the app. “You can login to console and easily apply for the IPO using UPI.”
As of an hour ago, Zerodha tweeted from its handle that “we’re working fine. Please retry now.”
“The problem that people are expressing is that they are not getting subscriptions on time,” Kamath said during an interview with The Economic Times earlier this week. “But I believe that is a factor of market demand for IPOs where oversubscriptions are happening to the tune of 100 times.”
He added that with every IPO they were seeing their systems improve.
“For a little time, but not completely down. Multiple tries would have worked,” CEO Nithin Kamath told ET when asked about the Zerodha outage. "The IPO has a lot of people trying to apply at the same time. It is slow, but working.”
On Wednesday morning, Zerodha tweeted users can subscribe to the Indigo Paints IPO using the app. “You can login to console and easily apply for the IPO using UPI.”
The IPO of Indigo Paints opens today and closes on Jan 22. You can login to Console and easily apply for the IPO using UPI.
— Zerodha (@zerodhaonline) 1611114458000But soon, users complained of widespread outage as they were unable to place their bids. Multiple users attached screenshots of Zerodha's console which said “there was an issue reaching our systems”.
As of an hour ago, Zerodha tweeted from its handle that “we’re working fine. Please retry now.”
@Divesh_Soni Hey Divesh, we're working fine. Please retry now.
— Zerodha (@zerodhaonline) 1611123722000“The problem that people are expressing is that they are not getting subscriptions on time,” Kamath said during an interview with The Economic Times earlier this week. “But I believe that is a factor of market demand for IPOs where oversubscriptions are happening to the tune of 100 times.”
He added that with every IPO they were seeing their systems improve.
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8 Comments on this Story
 | Arvind gupta41 days ago zerodha aaj bhi doun tha ipo application nahi ho paya. |
 | Suresh Kamath42 days ago Strange Complains from such users and blaming the Platform and NEVER understanding the ISSUE of difference between Slow running of the Site and outage as explained by Zerodha Head.The rush to beat all others in an IPO is NEVER a CASE of First Come First Served in any IPO and when IPO is OPEN for at least 3 days why such concerted attack for NO real fault of the SITE due to the enormous hits on the site for the IPO and hope the USERS keep their cool and apply well for the Indigo Paints and other IPOs due this week |
 | Prahlada Nayaka Basavanthappa42 days ago Am I lucky or the outage was because of me! LOL! I could bid for the Indigo Paints IPO in the first go around 10.45 am! Certainly Zerodha is growing faster. They must work on their technology in the same speed! |
