Groww IPO Review (Apply Steps, UPI and Allotment Status)


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Groww offers an online and paperless IPO application to its customers. Groww customers can instantly apply in an IPO using UPI (Unified Payment Interface) through the Groww website.

Groww is a Bangalore-based online discount broker that provides low-cost online trading and investment services to its customers. It started in 2016 as a direct mutual fund platform and is now expanding its services to add other investment products to its product base to help customers diversify their investments into multiple asset classes. Groww launched online IPO application services in Sep 2020. The IPO section is made available on the web as well as the app. However, the option to apply in IPO is currently available only on the web.

Groww does not provide any tips, recommendations, or advisory services. The company has a dedicated section for IPO wherein it maintains the list, details, and RHP of Groww open IPOs, Groww upcoming IPOs, and recently closed IPOs.


Steps to apply for an IPO through Groww

Below are the steps to apply online in an IPO through the Groww website.

  1. Login to Groww website and go to https://groww.in/ipo
  2. Select the IPO from the list of open IPOs.
  3. Enter the number of shares in the multiples of lot size.
  4. Enter the bid price within the price range or tick on the cut-off price.
  5. Click on Continue.
  6. Enter your UPI ID.
  7. Click on Submit Bid.
  8. Open your UPI app and approve the payment request.

You can click on Status once the bid is submitted to track the progress of your order.

Key Features of Groww IPO application

  • IPO application option is available only on the Groww web version.
  • You can place up to three bids.
  • You can modify or cancel your application from the Status window till the IPO is open.
  • The Status window provides the details of tentative IPO schedule dates like allotment finalization, refund initiation, Demat transfer, and the listing date.

 

 

You can also apply using your bank's ASBA facility and Groww Demat account. It is also a fully online process that can help you apply for an IPO in a few minutes.


Steps to Apply in an IPO using net banking ASBA

Below are the steps to apply online in an IPO through the Groww demat account and net-banking of your bank.

  1. Visit your bank's website and Log in to your net-banking account.
  2. Register yourself as an IPO applicant by entering your bank and Groww Demat details.
  3. Visit the IPO section of the website that is generally under the Investments section.
  4. Select the IPO you would like to apply for from the list of active IPOs.
  5. Select your account and enter your details on the application page.
  6. Confirm and apply.

In the ASBA IPO application, the bank blocks the application amount from withdrawal. The bank debits the money from your account on the allotment of shares. If there's no allotment, the bank unblocks the money. The money earns interest in the period.

The company will transfer the shares to your Groww Demat account on a successful allotment.


Groww IPO Charges

Groww offers free online IPO application services to its customers. There are no charges to apply for an IPO through the Groww trading platform.


Groww IPO Allotment Status

Groww does not maintain IPO allotment status on its website. You can check for the Groww IPO application allotment status from the IPO registrar's website or on our website at IPO Allotment Status Page.

You would receive an e-mail and SMS on your registered mail id and mobile number informing you of the allotment status once the allotment process finalizes.

In case of a successful allotment in an IPO, you will receive the allotted shares in your Groww Demat account. The bid amount that was blocked by the bank will also get debited. In case you do not receive shares in the IPO allotment, the bid amount that was blocked by the bank will get released.


Conclusion

Groww offers an easy and convenient online IPO application using UPI as a payment gateway. You can also apply using the ASBA facility. Groww does not provide offline IPO application services. Currently, the IPO application service is available only on the web. The company is working on upgrading the app version for the said feature and is likely to be launched soon.

Frequently Asked Questions

  1. 1. Can I buy an IPO on Groww?

    Yes, you can buy IPO on Groww using the UPI payment gateway.

    Groww offers an online and paperless IPO facility to its customers. However, currently, this feature is available only on the web and will soon be launched on the app.

     

  2. 2. How to apply in IPO at Groww?

    Groww offers an online and paperless IPO application facility to its customers. You can apply in IPO through Groww using the UPI.

    Steps to apply in IPO through Groww using the UPI:

    1. Go to https://groww.in/ipo.
    2. Click on Login/Register.
    3. Select the IPO from the list of open IPOs.
    4. Enter the bid quantity and the bid price.
    5. Click on Continue.
    6. Enter your UPI ID.
    7. Click on Submit Bid.
    8. Open your UPI app and approve the mandate.

    In case you do not have a UPI, you can also apply using the ASBA facility through Net banking and provide your Groww Demat account no.

     

  3. 3. How to apply in IPO in Groww without UPI?

    In case you do not have a UPI ID, you can apply in IPO using the ASBA Net banking facility and providing Groww Demat account no.

    Steps to Apply in an IPO using the Net banking ASBA facility (without UPI):

    1. Log in to your Net banking account.
    2. Go to the IPO section of the website.
    3. Select the IPO you would like to apply for from the list of active IPOs.
    4. Select your account and enter your details on the application page and provide your Groww Demat account no.
    5. Confirm and apply.

     

  4. 4. How to check the status of IPO through Groww?

    Groww does maintain a real-time allotment status tracker on its website. Once the allotment gets finalized, Groww shows the status of the IPO application with a time lag in the status window of the applied IPO.

    The status window shows the details of your bids, the status of your IPO, and the IPO schedule. In case of successful allotment, the status window will read as "Allotted" against your application number.

    Alternatively, you can check for the Groww IPO application allotment status from the IPO registrar's website or on our website at IPO Allotment Status Page.

     

    Groww IPO application allotment status

     

     

  5. 5. What are the charges of Groww IPO?

    Groww offers free online IPO application services to its customers. Groww does not charge any fees to apply in an IPO through the Groww trading platform.

     

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Information on this page was last updated on Thursday, July 15, 2021


1 Comments

Francis
1. Francis  Apr 23, 2021 14:19 I Like It. | Report Abuse Reply
how to apply for IPO in HNI category, ie above 2 Lakhs








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