How to apply for Indigo Paints IPO via Groww: A step-by-step guide

The initial public offer (IPO) of Indigo Paints has opened for subscription on Wednesday with a price band between Rs 1,480 and Rs 1,500 per share. The issue will close on January 22, 2021.

Most brokerage houses have recommended subscribing to the issue on the back of the company's fast growth in the last decade compared to peers.

Brokerages such as Groww offer the option of investing in it through their platforms.

Log in to Groww account and visit -- groww.in/ipo. You will be able to see a list of open, upcoming and recently closed IPOs. Select Indigo Paints IPO from the list of open IPOs. If you are using the Groww app, then click on the stocks tab and scroll down to see the list of open IPOs.

Step 2: As you click on Indigo Paints 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 Prospects’ for detailed information about the objects of the offer, promoters, etc.

Step 3: Once you have read all the important information, click on ‘Apply’. Next, enter the bid price and quantity. You can either enter the price manually or place the bids at cut-off price. The quantity will be in multiples of the lot size only which is 10 shares in the case of Indigo Paints. You can place up to 3 bids.

Step 4: Click on ‘Continue’ to proceed, once you have placed the bids.

Step 5: Enter UPI ID, verify bids and click on ‘Submit Bid‘.

Step 6: 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.