How Do I Apply for the Right Issue at Groww?

The company announces a rights issue for its existing shareholders, allowing its present shareholders to buy new shares at a discounted price. Groww, a leading stock trading company, sends an invitation form to each of its shareholders who are eligible to apply for a rights issue. Here’s how to apply for the right issue at Groww.

Steps to Apply for the Rights Issue at Groww Through Net Banking

Investors willing to apply for the right issues online at Groww can simply do it through Net Banking or the ASBA process. Many well-known banks offer to apply for the right issues online. Follow the steps provided below to apply for the right issue at Groww seamlessly:

How to Apply for Rights Issues at Groww Through Net Banking?

Individuals can easily apply for rights issues at Groww. They can easily apply their rights either in person by visiting a nearby bank or they can use an online platform like net banking. Many known banks like HDFC, ICICI, SBI, Kotak, and others accept the application through their net banking services. Here’s detailed information about the online procedure:

Step 1: Visit the official website of Groww and go to the log-in option.

Step 2: Log in to net banking services, using your mobile number and user ID.

Step 3: Search and click on the investment and insurance options.

Step 4: Within the investment and insurance tab, click on ‘invest online’.

Step 5: Look for ‘Online IPO/Call Money/Rights Issue’ and click on it.

Step 6: Find the company of your choice and click on the ‘Rights’ option to proceed. Choosing the rights option will provide you with the application consisting of rights issues.

Step 7: Provide the information on the number of existing shares that you already have. This information is essential, as the number of existing shares determines how many additional shares one can purchase.

Step 8: To link your application, enter your Groww Demat account details. This is crucial because that’s where your shares will be credited.

Step 9: Select the company of your choice, wherein you wish to apply for rights issue.

Step 10: To finalise your rights issue, review your application, check if all the information is entered correctly, and submit.

Steps to Apply for the Rights Issue at Groww Using Registrar’s Method

Applying for rights issues at Groww using the Registrar’s method is a simple procedure. The two most renowned RTAs in India that provide financial services are CAMs and KFin. In this guide KFin Technologies is used as an example, to demonstrate the procedure.

How to Apply Rights Issue at Groww Through Registrar’s Method?

Step 1: Visit the KFin Technologies website to apply for the rights issues.

Note- The ‘apply’ option for rights issues is available only when the rights issue is active. Therefore, before you begin to apply, ensure the rights issue is open.

To apply for the rights issue, first click on ‘email and Mobile registration’. Then, on the opening date, click on ‘Apply for rights issue’ when it becomes available.

Step 2: To apply first you have to click on the ‘email and mobile registration’ option. Later when the rights issue is enabled by the company, click on the ‘apply for rights issue’.  

Step 3: Determine your share type whether it is a physical share or a depository (with whom you have your account).

Step 4: Fill in your basic details like DP ID, client ID, and Captcha, and click on ‘submit’.

Step 5: Finally, to ensure you receive the allotment details of shares, register your email ID and contact number on the next page. 

Additional Information

• In case you already have a Demat account, but the shares of the company are in physical form, then open a new tab ‘Demat Account Number Registration’, and follow the instructions that appear on the screen. After following the instructions, click on proceed and enter the required information like the Demat account number, PAN card number, and others. Now you can simply apply for a rights issue through net banking whenever it is active.
• Also, in case the shares you receive are less than what you applied for; the additional amount will be debited to you in your registered bank account.

The process for applying for rights issues at Groww is simple and can be completed easily through two methods: ‘net banking’ and ‘registrar’s method. The procedure involves a few basic steps for registration and selection for the rights issue, Demat account details, and submission of application. Both methods of applying for the rights issue involve straightforward procedures. Thus, allowing investors to easily buy additional shares at low prices.