What is Groww?
Groww is India’s number 1 stockbroker, which is trusted by 10 Million+ active investors. Groww is one of the leading brokerage investment platforms that offers a wide range of financial products and services at your fingertips. Groww allows its customers to buy and sell stocks, which include IPOs, F&O, ETFs, digital gold, U.S. stock derivatives, and intraday, bonds, mutual funds (including Groww Mutual Fund), and other products. Groww presents a simple, user-friendly design and technology that makes your investment easier and smoother.
Things you need before you start
- An active Groww account
- Access to the internet
- A linked UPI ID to your bank account
- And, a sufficient bank balance
Groww IPO Apply Steps using UPI
- Open the Groww App on your device and go to the Stock section
- Scroll, and soon you will see an IPO option.
- Click on the IPO option
- You will be presented with a list of open, closed, and upcoming IPOs
- Click on the IPO you want to apply to
- You will be displayed with all the essential information related to the IPO, such as
- Minimum shares
- Bidding dates
- Price range
- Lot size
- Issue size
- Application details
- Subscription rate
- About company
- Strenghts & Risks
- Financials
- After analyzing everything, if you want to move forward, simply click on Apply for IPO.
- You will see an option saying Apply as regular.
- Enter the Lot size and Bid price (If possible, apply at the Cut-off price).
- Investors can also add bids to get more chances of getting allotment.
- Then, add your UPI ID, which is linked to your bank account
- And click on Apply.
- Wait for some minutes till you get a notification from your UPI for the IPO mandate.
- Approve the mandate, and your application will be submitted.
Easy right? It will take less than 5 minutes to apply IPO on Groww. But wait, what if you don’t really use UPI? Then what? Well, you don’t need a UPI ID to apply for the IPO. I understand not everyone is a UPI User. Investors can easily apply for the IPO using their bank’s net banking ASBA facility.
Groww IPO Apply steps using Net Banking ASBA
- Open your net banking app (SBI, BOI, HDFC, ICICI, Axis, Kotak, etc.).
- Sign up as an IPO applicant using your Groww Demat account details.
- Go to the IPO section
- Select the IPO you want to apply for from the list
- Enter your Details like Bid Quantity, Lot size, and Price
- Choose your account type (Savings, current, or NRE / NRO Account)
- Check all the details and confirm the IPO by clicking on Apply
Once submitted, your funds will be blocked until allotment. If you get allotment, the IPO money will be debited from the account. And if you did not get the allotment, the funds will get unblocked on the very next day of the allotment.
