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Groww to Upstox Demat Account: How to Transfer Shares?

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How to Transfer Shares from Groww to Upstox Demat?

– Register for CDSL Easiest

– Transfer Shares from Groww to Upstox

What are the Charges for Groww to Upstox Demat Transfer?

Conclusion

Groww is a Bangalore-based online brokerage offering flat fee discount services for Equity, IPO, and Direct Mutual Funds. Established in 2016, it expanded into Equity trading and offers additional investment options. Groww charges a maximum of Rs 20 per executed trade and provides free Mutual Fund services. It has a secure trading platform, a large user base, and educational resources for investors.

Upstox is a low-cost Indian brokerage offering a range of trading opportunities in equities, commodities, currencies, futures, and options through its tech-driven platforms. It is backed by investors like Kalaari Capital, Ratan Tata, and GVK Davix. Upstox Pro offers advanced trading features and is built on Omnisys technology. Read and know how you can transfer shares from Groww to Upstox demat account in a stepwise manner.

Open an account with Angel One, or read on transfer of shares from Groww to Upstox demat account.

How to Transfer Shares from Groww to Upstox Demat?

To begin with transfer of shares from Groww to Upstox demat account, you have to complete these two steps first:

  1. Obtain the Client Master Report (CMR) with client ID and Demat account details from the broker.
  2. Keep the CMR received from Groww on hand.

Read on – How to Transfer Shares from Upstox to Groww Demat Account?

Next, you should follow this step-by-step guide to complete the process of share transfer from Groww to Upstox demat account:

Register for CDSL Easiest

Follow these steps:

  1. Sign up for CDSL’s Easiest facility. CDSL Easiest, or Central Depository Services Limited – Electronic Access to Securities Information and Execution, is an online platform in India designed to simplify and streamline the process of managing securities and investments. It offers a range of services related to dematerialization, trading, and maintenance of securities in electronic form.
  2. Go to cdslindia.com and click on “Login to-New system Myeasi (BO/CM).
  3. Tap on ‘To register for easiest click here’.
  4. Enter your DP ID and Client ID (given by Upstox, not Groww)
  5. Confirm OTP sent to your registered mobile number and click on Continue
  6. Fill out necessary details.
  7. Next, choose account type as ‘Trusted Account (PIN) to continue.
  8. Enter your Trusted account details (broker you are transferring shares to) in the field provided. [Note: To find your Groww Demat account number, refer to the CMR copy sent to you, or check under personal details in the Groww app. The Groww Demat number is 16 digits long and begins with 120887.]
  9. If you have holdings in multiple Demat accounts, enter each account details. [Note: Account numbers are provided when you opened the accounts.]
  10. Click on the ‘+’ sign to add entries, up to a maximum of 4. Only brokers registered with CDSL can be added.
  11. Enter your Trusted account details. Here, trusted means the broker to who you are transferring shares to, and in this case – Upstox.
  12. You need to input your Groww Demat account number which you can find in the CMR copy sent to you or on the Groww app under personal details. Your Groww Demat number is 16 digits, starting with 120887.
  13. If you have holdings in multiple Demat accounts, insert the Demat account details for each broker and click the ‘+’ sign to add them. You would have received these accounts numbers when you opened your accounts.
  14. Only the details of brokers registered with CDSL can be added, and only up to 4 such entries are allowed.
  15. Add all the accounts you want to transfer your holdings to Groww, and then click on Continue.
  16. The brokers will verify your entered details.
  17. After the authentication, you will get a registration confirmation. Registration is now complete.
  18. You will receive three emails from CDSL in succession. The first email is a registration approval email. The second and third emails contain your login credentials – Login ID, password, and PIN.

Find out – How to Transfer Shares from Groww to Zerodha Demat Account?

Once you get the confirmation for registration through the first email, you can be assured about successful signup. With the login details sent to you in the successive emails, you can sign in easily. Now, you can start the Groww to Upstox share transfer process.

Transfer Shares from Groww to Upstox

These are the steps that you have to follow in order to transfer shares from Groww to Upstox demat account:

  • Log in to CDSL Easiest (https://web.cdslindia.com/myeasi/home/login) using the credentials you were provided with.
  • Click on the ‘Transaction’ tab and select ‘Setup’ for transferring stocks through Easiest.
  • Within ‘Transaction’, select the ‘Bulk Setup’ option.
  • Click the ‘+’ icon.
  • Add the quantity, ISIN, and the details regarding the cause for off-market transfer.
  • Click on SUBMIT.
  • Verify and select COMMIT option, and then input OTP PIN received on registered mobile
  • Upon Off-Market Transaction request completion, authentication from Groww is required.
  • You can receive communication from CDSL and Groww for authentication completion.
  • Once the process is finished, external holdings will be visible on Groww dashboard.

Open an account with Upstox, or continue reading on transfer of shares from Groww to Upstox demat account.

What are the Charges for Groww to Upstox Demat Transfer?

If you are transferring shares from Groww to Upstox demat account or some other broker, you will be charged Rs 15.93 per company, not per share. For example, if you have shares from 3 different companies, your fee will be 3×15.93 = Rs 47.79. Please ensure that you have sufficient funds in your Groww account to avoid transfer rejection.

Conclusion

That is how you complete the process. While it looks elaborate, the procedure is almost the same in case of most demat-to-demat transfers across brokers. As you can understand, transferring shares from Groww to Upstox Demat involves obtaining necessary documents, registering for CDSL’s Easiest facility, and providing specific account details. Ensure you have sufficient funds to cover the Rs 15.93 per company transfer fee to prevent rejections. This process allows you to gain control of your investments with Upstox.

Loved our article on Groww to Upstox Demat share transfer process? Check our YouTube video on:


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