How to Apply for IPO in Groww

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Groww is an emerging stockbroker influencing many beginners to trade with it, but here comes the question can you subscribe for the initial public offerings with the broker. If yes, then how to apply for IPO in Groww.

So, before getting into the details, here is the question, what do you do prior to using any of the online services?

Well! the answer is obvious, you need to register yourself to use its services. Right?

Similarly, when it comes to applying IPO using the Groww platform it becomes essential for you to get yourself registered with the broker by opening a Demat account.

Once you open Groww demat account, you get access to use its trading platforms, like the Groww app that gives you a way to trade in stocks and apply in IPO.

Groww, a discount broker is registered with the CDSL and the major exchanges including NSE and BSE gained much fame in the shortest time.

In the shortest time, the broker has powerfully emerged in the stock market by offering decent services and the best app for IPO investment.

But let’s see how it helps its customer in investing in different segments.

Before that if you are not having a Demat Account, then open it now for FREE!

How to Apply for IPO in Groww App?

Comparatively newer, this trading app also offers you tremendous facilities with great options to invest in digital gold, stocks, and other assets including the IPO.

The process to apply for IPO remains the same in most of the trading apps in India. Let’s get straight into the process of how to apply for IPO in Groww app specifically;

First, log in to your Groww trading app.
You’ll be redirected to the interface where you’ll need to scroll down to find IPO

Click on “IPO” to see the list of open and upcoming IPOs.
Select the IPO of your choice by clicking on “APPLY”.
Here you can check all the details of the IPO like price range, issue size, and bidding date.

As you click on Apply button a new screen appears where you’ll need to enter the lot size and the bid price.

Please note that in the Groww app, you get a defined bid price, but if you wish to customize it, you can deselect the checkbox below the bid price.

You’ll see the total amount.
Click on ‘Continue’ and enter the UPI ID.

A request for the IPO is generated. On final confirmation you are all done with the subscription status.

The corresponding bid amount gets blocked in your bank account for few days.
Here if you get IPO allotment, the amount gets debited automatically.

Here one must keep in mind that you can apply for one IPO application per Demat account. So for those thinking, “Can I apply for IPO from two Demat account” then the answer is a big NO.

If you do so then none of your applications gets rejected automatically.

Conclusion

Most of beginners wonder, why they need a Demat account, or can I buy IPO without Demat account, then here is the point they must consider, Demat account is all for preventing fraudulent activities and ensuring the safety of your investment.

No doubt anything and everything is possible, but if you want to apply for IPO in a seamless and secure way and further to trade them online, then having a demat account makes complete sense.

But is Groww app safe for IPO? The existing client base and the services make it one of the reliable stockbrokers. Yet, it is in the growing stage and it would be unfair to judge the platform too quickly, there are some features that are yet to be introduced such as market lot details, subscription rate and also the price band, etc.

One should still be careful, no matter how good the platform is, you must not take risks when it comes to investing the capital with half knowledge. Always keep basic pointers in mind;