IIFL Capital Achieves 400% Uplift in IPO Bid Conversions with Netcore’s AMP Email Innovation

Company: IIFL Capital

About IIFL Capital:

IIFL Capital Services Limited (formerly IIFL Securities Limited) is one of India’s largest independent full-service retail and institutional broking houses. With a legacy of over two decades, the company provides a comprehensive range of financial services and investment products to corporates, institutional investors, foreign portfolio investors, mutual funds, insurance companies, HNIs, and retail investors.
As of March 2025, IIFL Capital serves over 3 million customers through a network of 2,500+ points of presence across 500+ cities in India.

Industry: Financial Services

Location: India

Category: Email Marketing, Customer Engagement, Innovation

Solutions Used: AMP Emails

Business Objectives

IIFL Capital aimed to revolutionize the IPO application process for its customers by addressing key challenges in traditional email-based journeys:

High Drop-offs on External Pages: Customers had to click through multiple redirects to complete IPO applications, leading to significant journey abandonment.
Low Conversion Rates: Static promotional and transactional emails had lower conversion rates due to website drop-offs

IIFL sought an innovative engagement approach that could:

Simplify the IPO application journey.
Improve bid conversions by reducing drop-offs.
Strengthen brand trust and drive measurable business impact.

Solution: Netcore’s AMP-Powered IPO Email Experience

To transform the IPO journey, IIFL Capital partnered with Netcore Cloud to implement an industry-first AMP Email solution that enabled users to complete IPO applications directly within the email — eliminating the need to visit external pages.

Revolutionizing IPO Applications

For the first time in India’s securities industry, IIFL Capital empowered users to apply for IPOs end-to-end within the inbox using AMP-powered emails.
Customers could fill out their IPO details inside the email and trigger real-time verification and UPI mandate initiation without redirection.

Impact & Results

The partnership between IIFL Capital and Netcore Cloud delivered outstanding performance outcomes and set a new industry benchmark.

400% Uplift in IPO Bid Conversions
AMP-powered IPO emails achieved 4X higher bid conversions compared to static email journeys.
58% Application Success Rate
Over half of the AMP-based bid attempts successfully converted into IPO applications.
Enhanced Email Engagement & Trust
Seamless in-email experience and instant confirmation built stronger user confidence and satisfaction.
Innovation Leadership
Pioneered India’s first end-to-end IPO AMP email, positioning IIFL Capital as a leader in digital innovation within the securities industry.

Partnering with Netcore to launch India’s first AMP-powered IPO application journey was a game-changer for us. Traditionally, IPO applications involved multiple redirects from email to external sites, often creating friction for users. With this innovation, our customers could complete their IPO applications directly within their email, making the process seamless and intuitive. The results exceeded our expectations — a 400% uplift in bid conversions and 58% success rate in applications — setting a new benchmark in the industry. This collaboration has transformed user experience and reinforced our commitment to innovation in securities.

Jyotsna Solanki, EVP, IIFL Capital Services Ltd.