IPO Mandate failed after I got allocation - Help

IPOs
1

I have applied for a SME IPO via google pay upi through zerodha. So, I have created a upi mandate for that which comes close to 1.4 lakh. But today I got the allocation of the ipo but my upi mandate failed saying to daily transaction limit of upi is 1 lakh. I saw in this page - https://www.bseindia.com/downloads1/SEBI_FAQ_pertaining_to_use_of_UPI_in_ASBA.pdf that the limit for ipo mandate is 5 lakh.

What should I do next, will I loose the allocation in IPO ?

2

Hi @Souvik_Panda

The shares credited to the demat account can still be traded even if the funds are not deducted. If technical issues prevent the funds from being debited, the bank will make another attempt at a later time.

3 Likes
3

hello @Souvik_Panda
next what happen on listing day?
same happen with me, IPO got allotted but mandate failed due to UPI limit