How To Apply For Power Grid IPO

Now, if you are a cautious and an avid investor and want to opt for trading in an IPO, then here starts the informative piece on ‘How to apply for Power Grid IPO?’

But before that, let us know a little background of the company.

Power Grid Corporation of India Limited is also a Central Transmission Utilities (CTU) of India considered to be “Maharatna” at Central Public Enterprise.

The goal of the IPO is to increase up to Rs. 4,995 crore by selling the units of InvIT and Rs. 3,000 crore from selling the Power Grid units in the trust.

The first IPO via the PSU is the Power Grid IPO, i.e., Enterprise in the Public Sector Undertaking.

The Power Grid IPO Date 2021 is (●) and the Power Grid IPO Price is in the range of (●). So wondering how to apply for this upcoming IPO? Well! Here we are with the detailed process that helps you in subscribing seamlessly.

Let’s start to grasp the information!

How To Apply For Power Grid IPO Online?

Being a newbie in a share market is not so easy. And if you are looking to invest in the shares of any firm, then you can invest in Power Grid IPO as it is all set to launch its IPO in the upcoming month.

Before moving ahead, let’s see the basic requirements for applying for any IPO. So basically you must have:

➡️ Demat Account number

➡️ Bank account number

➡️ PAN Card details 

If you have all these handy, then you are all set to proceed further with the application process. 

Not having a demat account? Do not fret! Open it now for free. Just open a demat account by filling the basic details in the form below: 

 

Apart from this, there are another eligibility criteria that need to be considered to apply for Powergrid IPO: 

• The investor should be an Indian Resident or Native.
• The application should be placed through an approved bank on the ASBA list.
• The IPO application should not be under any of the reserved categories.
• The maximum investment amount is Rs. 2 Lakhs.

If you want to apply for Power Grid IPO online, then it can be done through the following two methods:

🎇 UPI Method

🎇 ASBA

Do you want to know more about the methods in detail? If yes, then the following segments are containing brief information about the same.

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How to Apply For Power Grid IPO through UPI? 

You might be having a nebulous feeling regarding the UPI method. If yes, then this particular segment will clear all your doubts on How to apply IPO through UPI? At the same time will guide you regarding the IPO execution procedure.

By choosing the UPI procedure, many of the stockbrokers allow the investors to apply for IPO through their own trading platforms.

Now, if you have decided to invest in the Power Grid IPO, you can refer to the following steps:

• Firstly, you must have a registered bank account at any UPI mobile application.
• Now when you apply for the IPO using the trading platform, enter the UPI ID generated during the registration.
• After the application is submitted, you will receive an amount blocking request in the application.
• Approve it to finalize the application.

Without any doubt, the UPI method is the most persistent, staunch, and fluent way of applying for an IPO. Moreover, it was approved by SEBI in 2019 as UPI had become a popular payment method among Indian citizens.

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How To Apply For Power Grid IPO Through ASBA?

The UPI procedure was facile and reliable if you are a great and active online user. So, after learning the UPI method, let’s understand another technique, which is ASBA.

What does ASBA mean? Basically, ASBA refers to the Application Supported by Blocked Account. You can swiftly apply for the Power Grid IPO with ASBA if you have fulfilled the eligibility criteria.

The steps to follow for applying through ASBA are as follows:

• Log into your net banking portal.
• In the menu of the dashboard, search for the Request Button.
• Click on it.
• You will get redirected to the IPO Application page.
• Here, select the IPO you want to subscribe from the list of all the open IPOs.
• Place bids in the application. For one IPO, you can place 3 bids.
• Fill in the form with the mandatory details like that of depository etc.
• Confirm the application submission.
• Submit the application.

After you submit the application, the corresponding amount will be blocked in your bank account. Now, let us focus on applying for Power Grid IPO offline.

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How to Apply for Power Grid IPO Offline?

When an investor or trader selects the offline process for applying for an IPO, they have to do it through the ASBA offline method. 

The steps to follow are:

• Visit the nearest branch of your bank.
• Fill the IPO application in paper form.
• Some important details to be filled in the form are – PAN Card Number, Bank Account Details, Demat Account Number.
• Make a payment through cheque for the application.
• Submit it to the designated bank executive.

The application is forwarded for further processing through the bank’s portal.

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Conclusion 

Power Grid Corporation of India Limited is a Central Transmission Utilities (CTU) of India and is regarded as ‘Maharatna’ by Central Public Enterprise. If the company goes through with this plan, it would become the first IPO of an InvIT by a government-owned firm.

When a Public Sector Undertaking (PSU) brings an IPO in the share market, it has high expectations of performance and since this company is already listed on the exchanges, it is easier to do a comparison of the data and values.

Thus, before you take a decision on it, make sure to analyze the financials and various other aspects.

Good luck and happy Trading!

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Want to invest in IPO and still not having a Demat Account? Do Not Fret! Fill the form below and open a demat account for free without delay.

 

Know more on Upcoming IPO GMP