Terms and Conditions (T&C) for IPO/FPO

Last updated on 28.12.2020

1. NextBillion Technology Pvt. Ltd. (hereinafter referred to as ‘Company’) through its

platform ‘Groww’ facilitates applying for Initial Public Offer (IPO) and Follow on
Public offer (FPO) to the Users. Funds are blocked as per the Funds/Payments
are collected as per the ASBA system. ASBA means "Applications Supported by
Blocked Amount". ASBA is a facility provided by banks to investors in initial
public offerings (IPOs) and follow-on public offers (FPOs) to block funds in their
bank account without having to make a payment.
2. Applications will be processed without validating the funds availability in User’s
bank account. The User should ensure that sufficient funds are available in the
Bank Account for which the UPI ID is provided in the online IPO application. The
Company may also become a sub-broker/sub-syndicate member/sub-
distributor for facilitating IPO/FPO applications for the Users.
3. The IPO bidding is done on the Exchange platform through APIs provided by the
Exchange. As the bids are placed through a digital platform, there could arise
technical fault or error, data loss during transmission. The Company will not be
held responsible and will not be under any compulsion to compensate for any
“lost opportunity” viz. notional profits for non-allotment which could not be
executed due to any reason whatsoever, including but not limited to system
issues, technical glitches, malfunction etc. The Company will process the
application on a best effort basis.
4. If there are more than one Demat account attached to an User ID, the Primary
Demat Account will be taken in the application unless the user mentions any
specific demat account which he intends to receive allotment.
5. The Company shall not be responsible for non-allotment or delayed allotment of
shares in any manner whatsoever.
6. The User is required to enter the UPI ID for his bank account only. User is
required to enter the respective UPI ID of the bank. In case of any mismatch, the
application is liable to be rejected.
7. Post successful bidding, User will receive block fund request which needs to be
accepted. Allotment will not happen if the User does not accept the block request
immediately.
8. The minimum application size, lot size, cut-off price etc are decided by the
respective issuers through its Lead Managers. The Company only provides online
platform for users to submit their bids and is independent of any of the above.
9. The User hereby agree and acknowledges that the role of the Company is only to
facilitate and process IPO/FPO applications, and the Company shall not be
responsible / liable for any losses/damages/costs of any nature whatsoever
incurred to the User due to the processing or non-processing of the applications.
10. The Company reserves the right to reject an application in case:
○ User provides insufficient details
○ If it is of the view that processing the same would violate the guidelines
laid done by any Regulators
○ If applications are not submitted within stipulated time
○ If User applies in different category for which he/she is eligible
○ If User do not accept the ASBA fund blocking request
11. The User hereby give his/her consent to the Company to share his/her personal
information including KYC information with other Group entities of the Company
for products and/or services offered by them through the Platform to the User.

12. The User agrees to indemnify and keep the Company and/or their directors,
associates, group, employees and representatives indemnified from and against
all actions, claims, (third party claims) demands, proceedings, losses, damages,
costs, charges and expenses, directly or indirectly, whatsoever (“Losses”) which
the Company and/or their employees, associates, directors, representative may
at any time incur, sustain, suffer or be put to as a consequence of or by reason
of or arising out of: (i) the Company acting in good faith and taking or refusing to
take or omitting to take action on the User’s instructions, and in particular
arising directly or indirectly out of the negligence, mistake or misconduct of the
User; (ii) The User’s breach or non-compliance of the T&C and/or (iii) fraud or
dishonesty relating to any transaction by the User or misrepresentation with
respect to data and information provided by the User.

13. The Company reserves the right to change/modify this T&C without any prior
notice to the User. The User can determine when the T&Cs was last modified by
referring to the “Last Updated” legend above. It shall be User’s responsibility to
check these T&Cs periodically for changes. User’s acceptance of the amended
T&Cs shall signify User’s consent to the changes and agree to be legally bound
by the same.

14. All disputes and differences arising out of, under or in connection with these
terms and conditions or anything done here under shall be within the exclusive
jurisdiction only to the courts of Bangalore.