Grip Broking Private Limited is a wholly owned subsidiary of Grip Invest Advisors Private Limited. Grip is a SEBI registered OBPP (“Online Bond Platform Provider”) and a registered stock broker with NSE in the Debt Segment. The opportunities listed on our platform like Corporate Bonds and Securitised Debt Instruments (SDIs) (LeaseX, LoanX, InvoiceX and BondX) are settled on NSE and/or BSE using the RFQ (“Request for Quote”) system provided by the NSE/ BSE. Grip’s SEBI Registration Number is INZ000312836)
‘OBPP’ stands for an Online Bond Platform Provider. SEBI has recently introduced a new regulatory framework for online platforms who distribute bonds and other debt instruments, like SDIs, to retail investors. Grip Broking Private Limited (a subsidiary of Grip Invest Technologies Private Limited) is one of the few registered OBPPs in India, and is regulated by SEBI as a stock broker in the debt segment (SEBI Registration Number: INZ000312836).
All fixed-income asset classes available on the Grip platform are structured as listed instruments and are tradable on the exchanges (NSE/ BSE). These include both Corporate Bonds as well as SDIs (LeaseX, InvoiceX, LoanX and BondX). Considering these instruments are listed, investments in these instruments can only be made during regular market trading hours of the concerned exchange, similar to other listed securities (like stocks, REITs, InvITs and ETFs). Furthermore, with our recent integration with the NSE for the RFQ system, all investments are made directly on the stock exchange. Typically, the market hours followed by the exchanges are 09:00 AM to 05:30 PM, Monday to Friday (except exchange certified holidays). If you are exploring any asset during non-market hours and wish to invest, you can set a reminder by clicking on the ‘Remind Me’ button, and we will remind you on the next day when the market reopens.
RFQ refers to the ‘Request for Quote’ platform of the stock exchange (NSE or BSE). This platform is meant for execution and settlement of transactions in debt securities (for example, corporate bonds, SDIs and other similar assets available on Grip’s platform). SEBI has mandated the use of this mechanism for carrying out transactions on online bond platforms (like Grip). You can learn more about it here. Further, all transactions entered through the RFQ mechanism are also settled through BSE’s/ NSE’s clearing corporation, which is a highly secure way of transacting in Corporate Bonds and SDIs. The RFQ mechanism also provides various payment options such as UPI, Net Banking, NEFT and RTGS providing you with both convenience and payment security.
For investing in Corporate Bonds and SDIs, the following payment deadlines are required to be followed: (Assume that the ‘T’ day is the day on which you have initiated the order process, and the ‘T+1’ day is the immediately next working day on which the market is open):
For Net Banking: 04:30 PM, T day
For UPI: 04:30 PM, T+1 day
For NEFT/ RTGS : 02:30 PM, T+1 day. Please note for NEFT/ RTGS, payment cannot be made on T day. You must only make the payment on T+1 day and it should reach the exchange account by 04:30 PM.
Yes, you can pay using UPI as a payment method. However, as per the UPI guidelines, the maximum limit for the transfer of funds is INR 200,000 (Indian Rupees Two Lakhs) per day and is further subject to individual limits imposed by the banks. We urge you to confirm the transaction limits with your bank before transacting. If the transaction value is greater than your UPI limit, you can also use Net Banking, NEFT, or RTGS to make the payment.
Yes, once you purchase any Corporate Bond or SDI securities using the Grip platform, these securities will be transferred to your Demat account. Further, since these are listed securities, you can sell them to any other person through the exchange mechanism. Please note that there may be a limited secondary market for these securities and Grip does not guarantee that you will find a buyer. You can contact your dedicated Grip relationship manager to explore other options in case you need to sell your securities.
You should typically expect to receive the securities on the next working day from the date on which you had placed your investment order (payment should be completed)
If you choose ‘NEFT/ RTGS’ as a payment method, you will first need to add the clearing corporation as a ‘beneficiary’. Please note that this is only required to be done one time - while making your first investment. Please note that you should use the same bank account, which you had shared while opening your account with Grip, to transfer the funds.
UPI is only eligible for payments of orders where amount to be paid is less than Rs 2,00,000
The term UCC stands for a ‘Unique Client Code’. This is a client identification number which is generated by SEBI registered brokers like Grip, and is mandatorily required to be maintained. The UCC generated by us for you will be used as your unique identifier on the Grip platform and will be quoted to the exchange while settling your order.
The UTR for each payment is generated by your bank. We suggest you reach out to your bank, and they should be able to provide you with these details.
On the [order confirmation] page, you will be able to check the name of the exchange (NSE or BSE) through which your RFQ order is being placed.
All payments are routed directly through the Clearing Corporation. Sometimes, it can take longer than expected to get a confirmation on the payment status from the Clearing Corporation. We suggest that you check the status again after 2 hours.
In case of payments made via NEFT, transactions can take a longer time to reflect on the exchange’s account. If you have already paid the consideration amount within the prescribed deadline, the updated status will be reflected soon. In the unfortunate event that your payment does not reach the exchange on time, you will be refunded the total amount you paid within 24 hours.
‘Pending investments’ refer to those investment transactions which have been initiated by you, and have consequently been reported by us to the exchange, however, the exchange is yet to receive the consideration amount against such investments. We request you to complete this payment within the indicated deadlines in order to avoid penalties (if any) being placed on you by the exchanges. If you have already paid the amount, you can recheck the status after a few hours as it may take some time for the payment status to be reflected.
As of 5th Oct’23, only a limited number of partner banks are supported by the exchanges for collection of payments through net banking for transactions executed through the RFQ platform. This list might change in the future. We urge you to use an alternative payment method.