Bhim UPI transfer Limit for IPO?

In order to test if it would properly on the day of IPO , I tried to transfer 2lac via Zerodha. I got the notification on BHIM app for confirmation. But it says i cant transfer more than 5000. Is there something wrong that I am doing? How it would work on the day of IPO? Your comments in this regard are highly appreciated.

The limit for UPI transactions is currently ₹ 1 lac per day. A UPI app or your bank may have sub-limits in place as well. However, for IPO related UPI mandate collect requests, the limit has been enhanced to ₹ 2 lacs to bring this in line with the retail category limit in IPOs. You can refer to the below circular from NPCI:

You do not need to transfer funds to your Zerodha account to apply for an IPO. You can place your order on Console and accept the application fund blocking request on your UPI app. Please check this article for the process to apply for an IPO through Zerodha.

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Thanks for the reply Mohit.
I understand that we dont need to transfer amount to zerodha for IPO.
Do you mean to say that no matter if the bank have sub limits in place, but for IPO it would automatically allot required amount (2lacs)?

what do zerodha get any benefit ; if we apply IPO from zerodha ?

Pls reply

Zerodha is making the process smooth and easy for retail customers.
In my understanding, it doesn’t get any benefit in this scenario. (ready to get corrected if wrong).

Apart from helping clients to apply to IPO we also make 10 to 30 rupees per successful application based on the IPO.

can the trader / investor apply for the IPO directly (without any intermediaries) and thus , the trader / investor can get any extra benefit in the direct transaction .
because , as you said , the intermediaries earn 10 to 30 rupees per application !

For IPO, merchant banker is paying this out of his pocket and not from client, client incurs no additional cost.
Also what is wrong if intermediaries earn 10 rs per application from client itself if they are taking the effort of alerting, educating,guiding and updating buy prices along with investing on technology/setting up online process, allotting few human resources to look after?
On a personal note, If one is running business they have to keep some margins right? what will you do if you own a business? will you offer for free without any margin? excuse me if I am a bit harsh but this thinking should go away, we have to live and let live.