IPO Application through UPI

The IPO application process through UPI has transformed the application process for investors to apply for IPOs into a simpler, quicker, and more convenient process than the earlier offline process.

1. UPI IPO Application Process

Online UPI IPO Application:

• Download a UPI-enabled app (e.g., Google Pay, BHIM, Paytm)
• Create a UPI ID and set the PIN
• Open a Demat and Trading Account with an online IPO application-providing broker
• Log in to the broker platform
• Look for the IPO Section on the broker's platform (site or mobile app)
• Complete the IPO Bid Details (number, price, investor type, etc.)
• Enter the UPI ID and submit the IPO form
• You will receive a payment approval request in your UPI app
• Authorize payment by approving the UPI Mandate request in the UPI app

Offline UPI IPO Application:

• Get the IPO application form from your closest broker/bank branch or download it on the stock exchange website (NSE/BSE)
• Enter the required details (name, address, PAN, etc.) and the IPO bid details
• Insert your UPI ID in the payment part of the form
• Pay and submit the completed form to the broker/bank
• Approve the UPI Mandate request once you get the payment request

Note: UPI ID is required for applying via the UPI payment gateway.

A UPI ID is a virtual payment address (VPA) that is utilized for payments. An email address but for payments, if you will. You need to register in any UPI-enabled app (such as Google Pay, BHIM, or Paytm) attached to your bank account to generate a UPI ID.

Example of a UPI ID: aarav@icici

• Retail Investors can make an IPO bid through UPI for up to ₹2 lakh
• Non-institutional Investors can make an IPO application of up to ₹5 lakh through UPI

The UPI IPO payment should be sanctioned prior to 5:00 PM on the issue closure date. The brokers might offer a buffer time for sanction to prevent last-minute hiccups, so confirm with your broker for timings.

Authorization of the UPI Mandate is required to finalize the IPO application process. If the mandate fails to get authorized before the cut-off time, the IPO bid will get rejected.

Typical Situations with Mandate Status:

• Mandate Expired: Re-file the IPO application
• Mandate Not Received: Resubmit the IPO application if the request isn't received within an hour
• Mandate Failed: Cancel the initial request and file a new IPO application
• Mandate Revoked: If you wish to withdraw the application, contact the intermediary and revoke the mandate

To check the status of your IPO application:

• Log in to the broker's platform or net banking website
• Go to the IPO/Investment section
• Check the status of your application under the "Bid History" or applied IPO section

You may see:

• Pending
• Bid Submitted Successfully
• UPI Mandate Pending Approval
• Bid Uploaded to Exchange
• Bid Rejected

• If there is no allotment or part allotment, the unallotted amount will be credited back to the investor's bank account through UPI
• Successful allotments will cause the IPO shares to be credited to the investor's demat account

• Issues relating to UPI can be brought to the attention of the respective intermediary (broker/bank) or through the UPI Dispute Redressal Mechanism Portal
• Complaints that cannot be resolved can be referred to SEBI

• BHIM UPI
• Google Pay (GPay)
• Paytm UPI

• Log in to the BHIM app
• Go to the IPO section and verify pending requests
• Approve the request and input your UPI PIN

In case of errors, you can re-initiate the transaction or reach out to the intermediary.

• Log in to Google Pay (GPay)
• Proceed to the Mandates section to approve the pending IPO request
• Enter UPI PIN to make payment

UPI IPO application process is a cost-effective and smooth mechanism for investors to invest in IPOs by saving paperwork and enabling instant payment process.