My wife and I have two separate Zerodha Demat accounts with a single joint bank account as primary account in both the demat accounts. While bidding for IPO can we use the same UPI ID for ASBA? Recent SBI Cards IPO has revoked my 2nd mandate after my acceptance while the 1st mandate in my wife’s account is OK.
Can I use my another UPI ID (same PAN) other than the primary account linked with Zerodha?
While bidding for an IPO, you can use any bank account in your name. A lot of times, the bank has only the first holder’s PAN mapped in the Core Banking System where the RTA validates the PAN from. In such cases, if the secondary holder’s PAN is not found, the secondary holder’s application may get rejected.
You can use another UPI ID with a bank account not mapped to Zerodha as well.