New Process for applying in IPO

New Process for applying in IPO

You may apply for IPO via all the UPI Payments App like GPay, Paytm, etc and can download them from the Google Playstore & Apple Store. 

Process on using "UPI as a payment option"

UPI as part of the bidding
  1. The investor will fill in the bid details in the application form (Online or offline) as per the existing process along with his UPI ID.    
  2. As per the existing process, the investor may submit the application to any of the intermediaries, who, on receipt of the application will upload the bid details along with the UPI id to the stock exchange bidding platform.      
  3. Post validation, the stock exchange will electronically share the bid details along with the investor's UPI ID, with the Sponsor Bank appointed by the issuer company. 
UPI as part of blocking
  1. Post Bid confirmation from exchanges, The Sponsor Bank will initiate and requests the investor to authorize the blocking of funds through the UPI app.
  2. The request raised by the Sponsor Bank would be electronically received by the investor as SMS /App Notification intimation on his/her bank-provided mobile no. linked to UPI ID.  
  3. Investor to authorize Blocking of Funds through Mobile UPI APP, equivalent to application amount.
  4. Upon validation of the block request by the investor, the said information would be electronically received by the investors’ bank, where the funds, equivalent to the application amount, would get blocked in the investor's account.
  5. In case of failure to confirm the UPI request, IPO bids shall be rejected.
UPI as part of the payment for shares post allocation process
  1. On the finalization of basis of allotment finalization, the funds, equivalent to the allotment, would be debited from the investor's account, and the remaining funds, if any, would be unblocked.

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