Groww offers online paperless IPO apply process to customers. If you have an active Groww account then you can apply in IPO online on the Groww platform at zero charges. The discount broker supports hassle-free IPO investment process using UPI ID by login to Groww app or trading website. However, if you don’t have an activate UPI app then you can still purchase IPO using ASBA facility through net banking portal of your respective bank account. Check out the process about how to apply for an IPO online on Groww app through UPI, charges, IPO allotment status, IPO application number, and more.
The discount broker supports IPO apply process on both the Groww mobile app and web-based trading platform using UPI as a payment gateway. IPO investment on Groww platform provides an abundance of features as follows.
Groww supports hassle-free IPO application procedure using UPI app by login to the Groww platform on app or website. The broker also accepts pre-IPO apply order from customers and the bid is submitted to the exchange on the IPO opening day.
Steps to apply for an IPO online through UPI on Groww;
Note: You can track the IPO application status under the “Status” tab option on the grow platform.
If you have Groww Demat Account but you’re not a UPI user then you can apply for an IPO using your bank’s net banking ASBA facility. In this facility, you can purchase IPO through your bank’s net banking portal. Here are the steps to apply in IPO on Groww through ASBA;
Note: The ASBA facility allows bank to freeze the application amount till allotment. In case of successful allotment, freezed funds will get debited else, will be released back to your bank account. You can see the allotted shares in your Groww Demat Account.
Nil charges, yes, Groww supports absolutely free IPO investment facility at zero fees. If you’ve Groww Demat + Trading account then you can purchase IPO online through the Groww app and web platform for Free.
Groww maintains real-time allotment status tracker to allow users to check the IPO allotment status online on Groww platform. Once the allotment is finalized for an IPO, Groww app will show the allotment status as “Allotted” or “Rejected”. Customers can log in to the Groww app, head to the “IPO” page and click on the “Status” tab just next to the IPO you had applied for. In case if you are successfully allotted with shares then the tab will display “Allotted” message next to the IPO application number and the blocked bid amount gets debited from your bank account and the allotted shares will be credited to the Groww Demat Account. In case you are not allotted with IPO shares, then the status window will display a “Rejected” message.
If allotment is not yet finalized then the tab will display “Approved” text, however, until you have not received and approved the payment or mandate request on UPI app, then the status tab will show text as “Requested”. You will also be notified about the allotment status on your respective email and mobile number.
Alternatively, customers can also check the allotment status on the IPO registrar’s website. You simply need to select the company name and enter PAN card number or Groww IPO application number and the screen will display the status.
The IPO Application number in Groww is a unique number generated for each client when he/she had subscribed to an IPO. Once you have submitted the IPO bid successfully to the exchange then the application number will be visible under the “Status” tab next to the IPO on the Groww app and website. Groww customers can use the application number to check the IPO allotment status.
Last Updated on 8th Sep 2023
Here are the two ways to buy IPO online with Groww:
Once you have successfully placed an IPO bid then it can take up to 24 hours to send the mandate request notification, so if you didn’t receive the fund block request then wait for 24 hours. In case you still didn’t get the request then cancel your IPO bid and apply again.
Groww is the best known broker for hassle-free investing experience. The broker allows customers to invest in IPO digitally and completely paperless manner using UPI ID through the Groww app.
Steps to apply in IPO on Groww app using UPI
Once you have applied to an IPO, you can check the IPO allotment status online under the “Status” tab on the Groww app. Once the allotment is out, if you got the allotment successfully then the tab will reflect a text as “Alloted” or else will show a message as “Rejected’. Alternatively, you can also visit the IPO registrar’s website and simply enter your PAN card number to check the allotment status.
Groww offers IPO purchase facility on the mobile app and website. Any Groww customer who has a Demat account can apply in IPO online using UPI as a payment gateway. You can place upto 3 IPO bids on Groww platform and the maximum bid amount will remain blocked till the IPO allotment.