Question 1

What does UPI ID mean in an IPO application?

Accepted Answer

A UPI ID is a mandatory identifier required to apply for an IPO using the UPI payment gateway.

You can use an existing UPI ID or create a new one through popular UPI apps like BHIM, Google Pay, Phone Pe, or Paytm. Your UPI ID acts as your unique virtual payment address. To apply for an IPO via UPI, you'll need both a UPI ID and a UPI PIN.

Question 2

What kind of UPI services can I use for an IPO application?

Accepted Answer

You can apply for an IPO through various apps and websites, including Google Pay, BHIM, Phone Pe, Paytm, or directly through banks that offer UPI services.

UPI is a real-time payment system that enables instant money transfers from your bank account. When applying for an IPO with your UPI ID, you must approve the UPI mandate request to finalize your application.

Question 3

How do I create a UPI ID for an IPO application?

Accepted Answer

Creating a UPI ID is a one-time process that you can complete using any approved UPI payment app like BHIM or Google Pay.

Here are the steps to create your UPI ID:
• Download your preferred UPI payment application (e.g., Paytm, Google Pay, BHIM).

• Add the mobile number registered with your bank account.

• Enter your login passcode.

• Select your bank from the provided list.

• Set up your UPI PIN using your debit card details.

• Enter the OTP received for validation and your ATM PIN to authenticate the transaction.

• Set your desired UPI PIN.

• The app will then generate your UPI ID.

Question 4

Can I change my UPI ID in an IPO application?

Accepted Answer

You can change your UPI ID in an IPO application only if the current UPI ID's status is invalid and you haven't yet submitted the application.

Once the UPI mandate is approved and your IPO application is successfully submitted, changing your UPI ID won't affect the application. The mandate will be executed using the bank account linked when the mandate was initially created.

You can often create multiple UPI IDs (e.g., 4 in Google Pay, 2 in BHIM). If you wish to use a different UPI ID for an IPO application, you can usually switch it in the profile settings of your payment app before applying.

Question 5

Can I apply for an IPO without UPI?

Accepted Answer

Yes, you can apply for an IPO without using UPI by opting for the ASBA (Applications Supported by Blocked Amount) payment mode.

If you don't have a UPI ID or encounter issues with your UPI app, you can apply by providing your ASBA-supported bank account number.

With the ASBA method, the IPO application amount is blocked in your bank account and only debited if you receive a successful allotment. In cases of partial or unsuccessful allotment, the blocked amount is released back into your account.

Question 6

How do I apply for an IPO without UPI?

Accepted Answer

You can apply for an IPO without UPI through ASBA net banking or by submitting a physical IPO application form.

**Steps to apply for an IPO online without UPI (via Net Banking):**
1. Log in to your Net Banking account.
2. Navigate to the "IPO investment" or similar tab.
3. Select the IPO you wish to apply for.
4. Fill in the required details: DP Client ID, number of shares, price, and investor category.
5. Submit your IPO application.

**Steps to apply for an IPO offline without UPI:**
1. Obtain the IPO application form from your nearest bank/broker branch or download it from the exchange website.
2. Fill in your applicant details, including name, address, contact information, Client DP ID, PAN, investor category, and status.
3. Enter your bidding details.
4. Provide the bank account number of your ASBA-supported bank.
5. Sign the form and submit it to the nearest intermediary.

Note: Always ensure you have the necessary balance in your bank account.

Question 7

Is it possible to apply for an IPO without a UPI ID?

Accepted Answer

Yes, you can apply for an IPO without a UPI ID. A UPI ID is only required if you choose the UPI payment method.

You don't need a UPI ID if you apply for an IPO through ASBA services. You simply need an account with a bank that offers ASBA, which most major national banks do.

To apply via ASBA, you just need to provide your ASBA bank account number in the payment section of the IPO application form, or you can apply directly through your bank's Net Banking services.

Question 8

Can I change my UPI ID after submitting an IPO application?

Accepted Answer

You can change your UPI ID in an IPO application only before you apply or if the UPI ID used for the application is invalid.

Once you approve the UPI mandate request and your IPO application is successfully submitted, you cannot change the UPI ID. Any changes to the UPI ID after the mandate is approved are irrelevant, as the funds are blocked from the bank account linked to the original mandate.

Question 9

Can I use a different UPI ID for my IPO application?

Accepted Answer

Yes, you can use any UPI ID for IPO applications as long as the payment app or banking system is connected to NPCI and provides UPI IPO services.

You can use your existing UPI ID or create a new one specifically for an IPO application. Many payment apps allow you to have multiple UPI IDs, giving you the flexibility to choose or switch as you deem fit.

Question 10

What is a UPI mandate for an IPO?

Accepted Answer

A UPI mandate is the approval request you need to complete the payment process for an IPO application.

When you apply for an IPO using a UPI ID, you will receive a UPI mandate request that you must review and approve. It's crucial to approve this request before the specified deadline to ensure your IPO application is processed successfully.

Question 11

What does "UPI status pending" mean in an IPO?

Accepted Answer

A "UPI status pending" in an IPO indicates that the payment has not yet been completed, and therefore, your IPO application has not been fully submitted.

You must authorize the UPI mandate request by 5 p.m. on the issue's closing day to complete the payment. If you encounter any problems or if the payment fails, you should re-initiate the transaction.

Question 12

What are the different UPI statuses in an IPO?

Accepted Answer

The UPI status in an IPO shows the current state of your UPI payment for the IPO application.

If your payment is successful and approved within the deadline, your bid will be uploaded to the exchange. However, if the mandate is not approved or fails, your application will be rejected. Therefore, it's important to check your IPO UPI status and take necessary actions.

Here are some common UPI statuses you might see:
• UPI IPO mandate authorization failed

• IPO UPI authorization failed

• IPO UPI Mandate failed

• IPO UPI mandate expired

• IPO UPI mandate pending

• IPO UPI mandate authorization failed

Note: The exact wording for these statuses may vary slightly depending on the app or bank.

If the status is "pending," you need to go to your UPI app and approve the mandate. If the status is "failed" or "expired," you should re-initiate the transaction. You can typically check the status of your UPI payment in the "Mandate" section of your UPI app, under "Pending" or "Active" tabs. Approved mandates are usually displayed in the "Active" tab.

Question 13

Is UPI mandatory for IPO applications?

Accepted Answer

UPI in IPOs is part of an effort to digitize the payment system for IPO applications, making the process more efficient, faster, easier, and more convenient.

UPI is mandatory for an IPO if you are an individual investor intending to submit your application online through a broker and applying for an IPO up to ₹5 Lakhs.

However, if you don't have a UPI ID or prefer to apply offline or through net banking, you can still apply for an IPO using ASBA.

Question 14

Is a UPI ID required for an IPO?

Accepted Answer

A UPI ID is mandatory for IPO applications that utilize the UPI payment gateway.

Your UPI ID serves as your unique identifier on the UPI platform. When the UPI mandate is approved, funds are blocked from your linked bank account based on the UPI ID you provided.

If you apply through the ASBA mode, a UPI ID is not required. In this case, you must provide your ASBA-supported bank account number for blocking the funds.

Question 15

Which UPI app is best for IPOs?

Accepted Answer

You can apply for an IPO through any UPI payment app that collaborates with NPCI to offer UPI services for public offers.

While there isn't one "best" app, here are some popular choices for UPI IPO applications:
• Google Pay

• Paytm

• Phone Pe

It's worth noting that some apps might only be available on Android, while others support both Android and i OS.

Question 16

How can I check my IPO UPI status?

Accepted Answer

You can check your IPO UPI status within your payment app or on the platform of the intermediary through which you made the request. You will also typically receive an SMS notification about your UPI status.

Here are the steps to check your IPO UPI Status:
• Log in to your payment app.

• Go to your profile section.

• Look for the "Mandates" section.

• The "Pending" tab will display any pending UPI mandate requests.

• The "Active" tab will show your approved or actioned UPI mandate requests.

Question 17

How do I apply for an IPO using UPI?

Accepted Answer

You can apply for an IPO online through your broker's platform using your UPI ID.

Here are the steps to apply for an IPO through UPI:
• Log in to your broker's platform.

• Go to the IPO section.

• Select the desired IPO from the list of live IPOs.

• Enter your bid details.

• Provide your UPI ID.

• Submit your application.

• Open your payment app to approve the UPI mandate request.

• Navigate to the "Mandates" section in your payment app.

• Enter your UPI PIN to approve the pending mandate request.

If you apply for an IPO offline using a UPI ID, you will receive the UPI mandate request for approval once the intermediary processes your application. In offline mode, you must manually enter your UPI ID in the payment section of the IPO application form.

Question 18

How do I accept a UPI mandate for an IPO?

Accepted Answer

You can accept UPI mandates for an IPO either through your payment app or by clicking on a notification you receive, which often leads directly to the UPI approval page.

Here are the steps to accept a UPI mandate for an IPO:
1. Open your UPI App.
2. Look for the "Mandate" section under your profile.
3. Go to "Pending Mandates."
4. Click on the "Pay" option.
5. Enter your UPI PIN to authorize the payment request.

Question 19

How do I authorize a UPI payment for an IPO?

Accepted Answer

You can authorize a UPI payment for an IPO either from the SMS notification you receive on your mobile or directly within your UPI app.

Here are the steps to authorize a UPI payment for an IPO:
1. Click on the notification link you received or find the IPO application payment page in your UPI payment app.
2. Verify the amount.
3. Enter your UPI PIN to complete the payment.

Question 20

Why haven't I received my UPI mandate for an IPO?

Accepted Answer

Sometimes, investors don't receive the UPI mandate due to technical problems or server failures on the bank's side.

In some cases, it might take up to an hour to receive a UPI mandate. If you still haven't received it, you may need to resubmit your application.

Before re-initiating your IPO application, ensure you check the following:
• Confirm if the mandate request was received but there was no notification on your UPI app.

• Verify that the correct UPI ID was entered.

• Ensure your UPI App version is the latest.

• Check if your registered bank supports IPO bids.

Question 21

Why is a UPI ID necessary for an IPO?

Accepted Answer

A UPI ID is required to complete payment when using the UPI payment mode. Without a UPI ID, the payment cannot be finalized. Therefore, if you intend to pay via UPI apps, you must create a UPI ID.

A UPI ID serves as your unique identity on the UPI platform. Based on the UPI ID you provide, the application amount will be blocked from your linked bank account once the UPI payment request is approved.

Question 22

Why is UPI important for IPOs?

Accepted Answer

UPI is important for individual investors who wish to invest up to ₹5 Lakhs in an IPO through a broker's trading platform.

Integrating UPI with IPOs is a step towards making the IPO application process more efficient and reducing the time frame for listing. The UPI payment mode is being introduced in phases with the goal of potentially making it mandatory in the future.

Question 23

Why did my UPI mandate for an IPO fail?

Accepted Answer

A UPI mandate can fail for various reasons. If your UPI mandate fails, you can typically re-submit your application.

Common reasons for UPI mandate failure include:
• Technical issues.

• Incorrect UPI PIN.

• Server issues.

Question 24

How does the IPO UPI mandate process work?

Accepted Answer

The IPO UPI mandate is a permission request from you, the investor, authorizing your bank to block the IPO application amount from your bank account.

You must approve this mandate via the website or app using your UPI PIN. Only once the mandate is approved is your application considered complete, and your bid is uploaded to the stock exchange.

Question 25

How can I cancel an IPO UPI mandate?

Accepted Answer

You can cancel an IPO UPI mandate by canceling your IPO application itself. If you encounter any issues, you should reach out to the intermediary through whom you made the application.

Canceling an IPO UPI mandate effectively means that your application is revoked or withdrawn.

Once you cancel the IPO application, the bank will lift the block on your funds. This usually takes about 24 hours, though the exact timeframe can vary between banks.

Question 26

Can I apply for an SME IPO through UPI?

Accepted Answer

Yes, you can apply for SME (Small and Medium Enterprise) IPOs using the UPI (Unified Payments Interface) facility, provided your broker offers this option.

• The UPI mandate limit for such applications is ₹5 Lakhs.

• You can submit applications through your broker’s IPO platform or via ASBA, selecting UPI as your payment option.

• In SME IPOs, an individual is considered an "Individual Investor" when applying for the minimum application size (typically two lots). Any application exceeding this threshold is categorized as Non-Institutional (NII).

Therefore, investors can conveniently apply for SME IPOs using UPI (subject to broker support), within the overall ₹5 Lakh transaction limit.

Applying for IPO via UPI

UPI Mechanism for IPO Applications

The IPO UPI Process

1. Online IPO Application UPI

Online IPO Application Process Through UPI

2. Offline IPO Application UPI

Offline IPO Application Process Through UPI

Understanding the IPO UPI ID

Limits for UPI in IPO Applications

Timing for UPI IPO Transactions

IPO UPI Payment Time Limit

Rules for Using UPI in IPO Applications

Mandate Approval in UPI Applications

1. IPO UPI Mandate Expired

2. IPO UPI Request Not Received

3. IPO UPI Mandate Failed

4. IPO UPI Mandate Revoked

Checking Your UPI IPO Application Status

Steps to Check Online UPI IPO Status

Handling IPO UPI Complaints

Using Bhim UPI for IPOs

Approving Bhim UPI IPO Mandates

Applying for IPOs via Gpay UPI

Approving Gpay UPI Mandates

Page Glossary

1. IMPS

2. NPCI

3. UPI PIN

Frequently Asked Questions