How Do I Apply for the Right Issue at Groww?

The company sends a form to shareholders entitled to receive rights issues, which can be completed online or offline. Investors receive a temporary Rights Entitlement (RE) informing them of eligibility for the rights issue.

Steps to Apply For the Rights Issue at Groww

How to Apply For the Right Issue at Groww

Follow the methods mentioned below to apply for the right issue in HDFC Securities.

Below are the steps to apply for a rights issue through ASBA/Net Banking:

Applying for a rights issue through ASBA/Net Banking is simple. You can submit your application in person at a bank location or online using a net banking platform. Many large banks, including Axis, HDFC Bank, ICICI Bank, SBI, and Kotak Mahindra Bank, accept applications via their online banking services, which follow the procedure for applying for an IPO.

Step 1: Log into your brokerage account online and go to the ASBA services area.

Step 2: Select the IPO/FPO/BUYBACK option to see all available rights offerings.

Step 3: Enter the number of shares you want to buy and submit your application.

Step 4: Check the applicable box to indicate that you agree to the terms and conditions.

Step 5: Ensure that you have enough money in your account to execute the transaction.

Step 6: Complete the transaction and review your order in the order book.

In addition, you may submit your application for the rights issue through the Registrar and Transfer Agent’s website.

Applying for the Right Issue in RTA

RTAs in India include CAMS and KFin Technologies Limited. Below is the example of KFin Technologies Limited to demonstrate the method.

Step 1: Go to the KFin Technologies Limited RTA website (https://rights.kfintech.com/). You will only have the opportunity to apply if the rights issue is open.

In this case, the “Apply for Rights Issue” option will be activated upon opening. But first, click on “email and mobile registration”.

Step 2: Determine if you have actual shares or the depository with which you have an account.

Step 3: Enter basic information such as DP ID, customer ID, captcha, and click Submit. 

Step 4: On the following screen, enter your email address and cellphone number.

Registering your mobile number and email address will make sure that you receive all the allocation information. 

If you already have a Demat account but still own RIL shares in physical form, Follow the below steps to register your Demat Account Number Information for the rights issue.

Step 1: Navigate to the next tab, “Demat Account Number Information Registration.”

Step 2: Follow the instructions that appear on the screen.

Step 3: When you are ready to proceed, click “Proceed”.

Step 4: Enter your PAN number, Demat account number, and other needed information when requested.