Simple Steps to Apply for IPO through UPI
SEBI has introduced the use of Unified Payment Interface (UPI) as a payment mechanism for applications in public issues by Investor in Retail Category through Intermediaries.
The UPI mechanism is mandatory for Retail Investor Category since July 1, 2019.
Simple Steps to Apply for IPO through UPI
Step 1 :
Download any one UPI App to create your UPI Handle which will be used for IPO Application.
This is a one time process, UPI handles once created can be used in all IPO applications.
Sr. No. UPI Apps live on IPO UPI ID
1 BHIM (android & iOS) @upi
2 BHIM Axis Pay (only android) @axisbank
3 BHIM SBIPay (only android) @sbi
4 Citi Mobile (android & iOS) @citi & @citigold
5 HDFC Bank Mobile (only android) @hdfc
6 HSBC Simply Pay (android & iOS) @hsbc
7 iMobile by ICICI Bank (android users) @icici
8 Phone-Pe (android & iOS) @ybl
The UPI app will guide you on the entire process of creating the UPI Handle.
If UPI handle is already created, Step 1 can be skipped.
Step 2 :
(i) Visit Any Brokerage House For Demat Account.
(ii) Select the IPO you wish to apply
(iii) Login with your credential
(iv) Enter the bid details.
(v) Enter the UPI handle in UPI Details
(vi) Click on Submit Application. You will get OTP on your registered mobile number.
(vii) Enter OTP and click on Submit OTP. You’ll get application reference number.
Step 3 :
Once done, please use your UPI App to accept the mandate (there may be some delay due to process carried out by the exchange).
The application amount will get blocked in your account and will be released only after the IPO allotment is over.
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