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Choice Broking IPO Review (Apply Steps, UPI and Allotment Status)


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Choice Broking offers an online IPO application to its customers. Choice Broking customers can instantly apply in IPO with Jiffy using UPI (Unified Payment Interface) payment gateway. Jiffy has a dedicated IPO section that maintains IPO listings with details of open, closed, and forthcoming IPOs. You can subscribe, modify, and track the IPO application status very easily through Jiffy.

Choice Broking is a full-service broker with a dedicated research team that provides a free fundamental analysis of IPO through its IPO reports to assist investors to take the right decision while investing in IPO. The IPO reports are available under the research section on the company website.


Steps to apply for IPO through Choice Broking

Below are the steps to apply online in an IPO using Jiffy App.

  1. Login to Jiffy Mobile App.
  2. Go to the IPO section for the list of all open IPO.
  3. Tap on the IPO in which you would like to apply.
  4. Click on 'Subscribe' at the bottom of the selected IPO detail page.
  5. Enter the lot size.
  6. Select Yes to bid at the cut-off price or input your bid price.
  7. Enter your UPI ID, select VPA code, and click verify.
  8. Tick the checkbox to confirm that you are an eligible UPI bidder.
  9. Click on Subscribe.
  10. Open your UPI app and approve the payment request. 

Alternatively, you can also apply online through the Jiffy web by signing in through the Jiffy website link

You can also apply offline using ASBA in case the bid amount is greater than Rs 2 lakhs. Below are the steps to apply using ASBA:

  1. Download the IPO Application Form from the exchange website or procure a physical form from your nearest broker.
  2. Fill in the basic information like name, PAN no., bank account details.
  3. Enter the lot size, bid price, bid amount.
  4. Provide the Choice Broking Demat details or any other Demat details as the case may be for the credit of shares
  5. Submit the duly filled in form to the Self-certified syndicate bank (SCSB)
  6. SCSB would verify and upload the IPO applications in the bidding system.
  7. SCSB would block the funds to the extent of the bidding amount.
  8. The funds get debited on the allotment of shares.

Choice Broking IPO Transaction Status

Jiffy tracks the progress of IPO transaction at each stage reflecting whether the IPO application has been successfully accepted, failed, pending, or cancelled.

Jiffy IPO Transaction Status and Meaning: 

  1. Payment Status: The payment status is either shown as success, failed, or pending depending on whether the payment is successfully accepted or not. 
  • The failed status will require the payment process to be re-initiated as the payment did not go through. 
  • The success status reflects the application is successfully accepted. 
  • The pending status signifies the UPI mandate is not yet approved.
  1. DP Verification Status: The DP verification status is shown as successful, pending, or failed based on whether the Demat details provided by you match with the SEBI data.
  • The failed status signifies that DP details provided by you do not match with the DP registered in your name at SEBI. 
  • The successful status denotes the DP details provided by you match with the DP registered in your name at SEBI. 
  • The pending status means the verification is still in process.
  1. IPO Application Status: The IPO application status reflects as subscribed, cancelled, modified, or failed.
  • The subscribed status denotes that your IPO application is successfully accepted for which you would shortly receive the UPI mandate request that would be required to be approved. 
  • The cancelled status is displayed when you have cancelled the IPO application. 
  • The modified status is shown when you have modified the price or the quantity in the IPO application. 
  • The failed status signifies that the IPO subscription has failed and the application process has to be re-initiated again.

You can modify or cancel the IPO application details through the bidding screen. You can change the price, lot size, quantity through this screen for which you will receive a message from the Exchange and a new UPI Mandate for approval in case of the increased bid amount.


Choice Broking IPO Charges

Jiffy offers free online IPO application services to its customers. There are no charges to apply for an IPO through Jiffy.


Choice Broking IPO Allotment Status

Choice Broking IPO allotment status can be checked from the IPO registrar's website. You would receive an e-mail and SMS on your registered email id and mobile number informing of the status of your allotment once the allotment process is finalized. 

In case you get a successful allotment in an IPO you will receive the allotted shares in your Demat account and the bid amount that was blocked by the bank will get debited.

In case you do not receive any shares in the IPO allotment, the bid amount that was blocked by the bank will get released.

You can also check the Choice Broking IPO Allotment Status here on our website at IPO Allotment Status Page.


Conclusion

Choice Broking offers an easy and convenient online IPO application. The applications have to be made using UPI as a payment gateway. You can also choose to apply offline using ASBA using your Choice Broking Demat account.

Frequently Asked Questions

  1. 1. Does Choice Broking allow IPO?

    Yes, Choice Broking offers to invest in IPO using its trading platform Jiffy. Choice Broking Jiffy has a dedicated IPO section that provides IPO details of open, forthcoming, and closed IPOs.

    You can instantly subscribe to an IPO through Jiffy using the UPI payment gateway. You can track the progress of your IPO application with the status of your payment and DP verification. You can also modify or cancel the bid before the closure of the modification window. You would receive a message and email on your registered mobile number and email id informing you of the IPO application status.

     

  2. 2. What are the charges of Choice Broking IPO?

    Choice Broking does not levy any charges to its customers to apply for an IPO through Jiffy. 

    Note: When selling IPO shares, you will have to pay the brokerage, Demat debit transaction charges, and taxes as applicable.

     

  3. 3. How to apply in IPO through Choice Broking?

    To apply in an IPO with Choice Broking, you would need an active UPI account, Jiffy account, Demat account, and sufficient funds in your linked bank account.

    Steps to apply in IPO in Choice Broking 

    1. Login to Jiffy Mobile App or Jiffy website.
    2. Go to the IPO section.
    3. Click the desired IPO from the open IPO list.
    4. Click on 'Subscribe' at the bottom of the selected IPO detail page.
    5. Enter the lot size.
    6. Enter the bid price or select 'Yes' to bid at the cut-off price.
    7. Enter your UPI ID, select VPA (Virtual Permanent Address) code, and click verify.
    8. Tick the checkbox to confirm that you are an eligible UPI bidder.
    9. Click on Subscribe.
    10. Approve the Payment mandate on your UPI app to complete the IPO application process. 

    The UPI mandate request generally takes about 2 hours to reflect on the UPI app for approval.

     

  4. 4. How to check the status of IPO through Choice Broking?

    Choice Broking Jiffy displays the status of IPO application under 'IPO Transactions' within its dedicated IPO section as subscribed, modified, canceled, or failed. 

    1. The subscribed status denotes that your IPO subscription has been successful for which you would receive the UPI mandate for approval.
    2. The modified messagereflects that you have changed the Price or Quantity in the IPO application
    3. The canceledmessage is reflected when you have canceled the IPO Application.
    4. The failed status is displayed when your IPO subscription has failed and you would need to re-initiate the IPO application process afresh. 

    It is important to note that the above are the statuses of your IPO application transaction and is different from the IPO allotment status

    Choice Broking does not have its own IPO allotment tracking. You would receive an SMS and email on your registered mobile number and mail id notifying you of your allotment status. You can check the status of your IPO applied through Choice Broking from the IPO registrar's website or by visiting the IPO Allotment Status Page on our site.

     

  5. 5. How to apply IPO in Choice Broking without UPI?

    Choice Broking offers to apply IPO only through the UPI payment gateway. In any case, if you do have UPI or are not able to access the UPI interface for some reason, you can apply for IPO using the ASBA facility. 

    You can apply for an IPO using the ASBA net banking facility. Almost all the popular banks like SBI, ICICI, HDFC, Axis, and Kotak Bank offer online ASBA IPO applications. To know the ASBA process of these banks, click on the link provided below: 

     

    Alternatively, you can also apply offline using the ASBA facility by submitting the duly filled up physical IPO application form to Self-Certified Syndicate Banks (SCSB), who would further upload and process your IPO application. 

     

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Information on this page was last updated on Tuesday, November 24, 2020


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