RailTel is set to launch an IPO on February 16, 2021 (open for subscription on Groww!). The IPO will be open for subscription until February 18, 2021. Here’s a short blog on how to apply for RailTel IPO online. Read on!
Step 1: Visit Groww IPO Page. if you are using Groww app, then go to the stocks tab and scroll down to see the list of live IPOs. Select RailTel IPO.
Step 2: As you click on RailTel IPO you will be able to view important details such as issue size, price etc on the IPO Card. You can also read the Red Herring Prospectus for detailed information about the objects of the offer, promoters etc. Click on ‘Apply’ to proceed.
Step 3: In the order card, you will be able to see the pre-filled field for the minimum number of shares, which is 155 shares in this case. Enter the number of shares you want to buy, however, please note, the number of shares you can buy will be in multiples of 155 only. You can also place up to 3 bids at the price range (Rs.93 to Rs.94) or place all the bids at the cut off price (Rs.94). Click on ‘Continue’ to proceed.
Step 4: Enter UPI ID, verify bids and click on ‘Submit Bid‘.
Also Read: List of UPI Apps for IPOs Supported on Groww
Step 5: A request will be sent to your UPI app. Approve the mandate to confirm the order. Upon confirming, 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.
And your IPO application is successful! You can check the status of your IPO application on the sidebar. Any modifications or order cancellation can be done only till the time the IPO is open.
Also Read: How To Find IPO Mandate on Gpay and Phonepe