Choice Broking IPO Review (Apply Steps, UPI and Allotment Status)

Choice Broking offers an online IPO application to its customers. Choice Broking customers can instantly apply in IPO with Jiffy using UPI (Unified Payment Interface) payment gateway. Jiffy has a dedicated IPO section that maintains IPO listings with details of open, closed, and forthcoming IPOs. You can subscribe, modify, and track the IPO application status very easily through Jiffy.

Choice Broking is a full-service broker with a dedicated research team that provides a free fundamental analysis of IPO through its IPO reports to assist investors to take the right decision while investing in IPO. The IPO reports are available under the research section on the company website.

Steps to apply for IPO through Choice Broking

Below are the steps to apply online in an IPO using Jiffy App.

1. Login to Jiffy Mobile App.
2. Go to the IPO section for the list of all open IPO.
3. Tap on the IPO in which you would like to apply.
4. Click on 'Subscribe' at the bottom of the selected IPO detail page.
5. Enter the lot size.
6. Select Yes to bid at the cut-off price or input your bid price.
7. Enter your UPI ID, select VPA code, and click verify.
8. Tick the checkbox to confirm that you are an eligible UPI bidder.
9. Click on Subscribe.
10. Open your UPI app and approve the payment request. 

Alternatively, you can also apply online through the Jiffy web by signing in through the Jiffy website link. 

You can also apply offline using ASBA in case the bid amount is greater than Rs 2 lakhs. Below are the steps to apply using ASBA:

1. Download the IPO Application Form from the exchange website or procure a physical form from your nearest broker.
2. Fill in the basic information like name, PAN no., bank account details.
3. Enter the lot size, bid price, bid amount.
4. Provide the Choice Broking Demat details or any other Demat details as the case may be for the credit of shares
5. Submit the duly filled in form to the Self-certified syndicate bank (SCSB)
6. SCSB would verify and upload the IPO applications in the bidding system.
7. SCSB would block the funds to the extent of the bidding amount.
8. The funds get debited on the allotment of shares.

Choice Broking IPO Transaction Status

Jiffy tracks the progress of IPO transaction at each stage reflecting whether the IPO application has been successfully accepted, failed, pending, or cancelled.

Jiffy IPO Transaction Status and Meaning: 

1. Payment Status: The payment status is either shown as success, failed, or pending depending on whether the payment is successfully accepted or not. 

• The failed status will require the payment process to be re-initiated as the payment did not go through. 
• The success status reflects the application is successfully accepted. 
• The pending status signifies the UPI mandate is not yet approved.

2. DP Verification Status: The DP verification status is shown as successful, pending, or failed based on whether the Demat details provided by you match with the SEBI data.

• The failed status signifies that DP details provided by you do not match with the DP registered in your name at SEBI. 
• The successful status denotes the DP details provided by you match with the DP registered in your name at SEBI. 
• The pending status means the verification is still in process.

3. IPO Application Status: The IPO application status reflects as subscribed, cancelled, modified, or failed.

• The subscribed status denotes that your IPO application is successfully accepted for which you would shortly receive the UPI mandate request that would be required to be approved. 
• The cancelled status is displayed when you have cancelled the IPO application. 
• The modified status is shown when you have modified the price or the quantity in the IPO application. 
• The failed status signifies that the IPO subscription has failed and the application process has to be re-initiated again.

You can modify or cancel the IPO application details through the bidding screen. You can change the price, lot size, quantity through this screen for which you will receive a message from the Exchange and a new UPI Mandate for approval in case of the increased bid amount.

Choice Broking IPO Charges

Jiffy offers free online IPO application services to its customers. There are no charges to apply for an IPO through Jiffy.

Choice Broking IPO Allotment Status

Choice Broking IPO allotment status can be checked from the IPO registrar's website. You would receive an e-mail and SMS on your registered email id and mobile number informing of the status of your allotment once the allotment process is finalized. 

In case you get a successful allotment in an IPO you will receive the allotted shares in your Demat account and the bid amount that was blocked by the bank will get debited.

In case you do not receive any shares in the IPO allotment, the bid amount that was blocked by the bank will get released.

You can also check the Choice Broking IPO Allotment Status here on our website at IPO Allotment Status Page.

Conclusion

Choice Broking offers an easy and convenient online IPO application. The applications have to be made using UPI as a payment gateway. You can also choose to apply offline using ASBA using your Choice Broking Demat account.

Frequently Asked Questions

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Information on this page was last updated on Wednesday, May 22, 2024