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
- 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.
- 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.
- 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
- Post Bid confirmation from exchanges, The
Sponsor Bank will initiate and requests the investor to authorize the blocking of
funds through the UPI app.
- 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.
- Investor to authorize Blocking of Funds through
Mobile UPI APP, equivalent to application amount.
- 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.
- 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- 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.