How to Apply for IPOs on Groww: A Step-by-Step Guide
Applying for an Initial Public Offering (IPO) on Groww is a seamless process that allows investors to participate in the stock market's newest listings. Here's a concise guide to help you navigate the application process:
Open the Groww App or Website:
Begin by logging into your Groww account. If you don't have one, you can easily sign up by providing your details and completing the Know Your Customer (KYC) process.
Navigate to the IPO Section:
Once logged in, locate the 'IPO' tab on the dashboard. This section lists all upcoming and ongoing IPOs available for application.
Select the Desired IPO:
Browse through the list and click on the IPO you're interested in. Ensure you check the IPO details, including the issue price, lot size, and subscription dates.
Choose Your Investor Category:
Groww offers different categories for investors:
Retail Individual Investor (RII): For investments up to ₹2 lakh.
High Net-Worth Individual (HNI): For investments exceeding ₹2 lakh.
Select the appropriate category based on your investment amount.
Enter Application Details:
Specify the number of lots you wish to apply for and the bid price. Note that HNI investors cannot choose a cut-off price; a block mandate at the highest bid price is created in their account.
Provide Your UPI ID:
Enter your UPI ID to facilitate the blocking of funds. A mandate request will be sent to your UPI-linked bank account for approval.
Approve the Mandate Request:
Open your UPI app, review the mandate details, and approve the request to block the application amount.
Confirmation:
After approval, you will receive a confirmation of your application. The amount will be blocked in your bank account until the allotment process is completed.
Key Points to Remember:
Ensure your Demat and trading accounts are linked and active.
The Application Supported by Blocked Amount (ASBA) facility is used for IPO applications.
Funds are blocked in your account and debited only if shares are allotted to you.
You can track your application status through Groww or the registrar's website.
https://finnpick.com/company-d....etail/groww-ipo-main
