If you have a Demat Account with Groww and an active UPI app, you can apply for an IPO by following these simple steps after pressing the button below:
1. Click on the 'Stocks' tab at the bottom.
2. Scroll down to find the IPO button and click on it.
3. Select the IPO you’re interested in from the list of open IPOs.
4. Enter the bid amount and continue. Each IPO has a minimum bid amount that needs to be blocked.
5. Ensure the quantity selected is a multiple of the lot size.
6. You can modify the bid price by ticking the 'At cutoff price' option and entering the amount manually.
7. Enter your UPI ID and proceed. Your UPI ID is usually something like rahul@oksbi or 091654301@ybl and can be found on your UPI app.
8. Click on 'Apply for IPO'.
9. Within an hour or two, you will receive a mandate request on your UPI app. Just approve the payment.
You’ll get all further updates on the Groww app on the same IPO page, so you can sit back and relax!
For more clarity, please check out the explainer video above.