The Indian Railways Finance Corporation (IRFC) is launching an IPO on January 18 ( Open for subscription now!), 2021, for a fresh issue of up to 118.80 crore shares for Rs.3088 crore and an offer for sale of up to 59.40 crore shares for Rs.1544 crore. Read on to know how to apply for IRFC IPO online.
You can invest in IRFC IPO from January 18 to January 20 on Groww, via your UPI ID. Here’s how:
Step 1: Login via web, and go to https://groww.in/ipo. Select IRFC IPO from the list of upcoming IPOs. If you are using Groww app, then click on the stocks tab and scroll down to see the list of open IPOs. Select IRFC IPO from the list. Please update your app to the latest version to view the IPO option.
Step 2: Once you click on the IRFC IPO, you will be able to view important information about the IPO such as lot size, issue size and price band. You can also read the RHP or the Red Herring Prospectus to access details regarding the objects of the offer.
Step 3: Click on ‘Apply’. Enter the bid price and quantity. Please note, for IRFC the lot size is 576 shares. This is the minimum number of shares for which you can place an order. You can buy IRFC shares in multiples of the lot size and can place up to 3 bids.
Step 4: After placing the bid, click on ‘Continue’ to proceed. The highest bid amount will be blocked in your account and cannot be used for withdrawal. This amount will get unblocked in case you do not receive an allotment.
Step 5: Enter UPI ID, verify bids and click on ‘Submit Bid‘.
Step 6: A mandate request will be sent to your UPI app. Accept the request to confirm the order.
Also Read : How To Find IPO Mandate on Gpay and Phonepe
Voila! You have successfully placed your IRFC IPO order! You can click on ‘Status’ to see the progress of your order on the side. You can either modify your order or cancel your order if you so wish. Please remember, any modifications to the order can only be done till the time the IPO is open.