MeroShare App facing issues since yesterday; what do the officials have to say about it?

Meroshare app, by CDS and clearing limited had been facing issues with the access and login. The investors were not able to apply for the IPO issue of various companies due to the same. As per the officials at CDS, the issue was faced because number of companies’ IPO issue was open due to which the website could not handle the load of applicants. The spokesperson also added that currently IPO for 7 companies and right shares of 2 companies is open.

To process the transactions, the investors have to use the app to generate the Electronic Debit Instruction Slip (EDIS). Due to the issue, this is hampering the transaction. This issue has forced the investors to go to the brokers’ office to process the transaction.

Normally, the transactions are processed as per T+2 days i.e. the shares are transferred to the account within two days of trade. Since such issues are recurring, the investors are in panic.