You may face the following UPI mandate issues when applying for an IPO:
Mandate request not received - You have time until 12 PM on March 6, 2020 to receive and accept the mandate. On submission of an IPO application, the mandate collect request is supposed to be sent by the Sponsor Bank (banker to the issue) in real time. You may have to wait up to the end of the day to receive the mandate collect request due to delays from the Sponsor bank.
Mandate request declined by the bank - You should delete your application on Console and apply again (preferably with a different bank account). You can use any bank account where you have an account. It need not be mapped to your Zerodha demat account.
Received the mandate but unable to accept the request - Same as above
See if your Online Banking portal has ‘Online ASBA’ facility. You simply have to download a blank form from https://www.nseindiaipo.com/eipo/bidux/login.jsp#,.It will download in ZIP format,Unzip and extract,you will get a pdf file which will be a blank form…The top right corner has the form number.You just have to note that number.
Fill the form number, Your depository (NSDL/CDSL), Your DEMAT number for IPO,No of Bids and the price you want to quote atvthe Online ASBA facility of your net banking,and BIngo… You’re done.The bank will automatically block the Lien amount from your account.If you are allotted shares,it will get debited,else will be unblocked after the listing.Very simple procedures…No UPI …No Bhim…Just your bank terminal…!!!
most of us are having onine banking facility and ASBA.
this zerodha UPI request finally goes to bank;
the balance in trading account is not blocked.
then why zerodha entered here?
some simpe thought?
I applied for an IPO and currently see its status as “Request Accepted By Sponsor Bank”. I understand that these status messages are directly sent by the exchanges and Zerodha doesn’t have any control over them.
I assume that the Status being shown in Console isn’t updated in real-time as I have already accepted the UPI mandate request. Is it possible to show a timestamp beside these status messages, so that it is easy to know when a Status was last updated by the exchange?
This error is sent by the bank if it faces any issue while revoking the mandate for your IPO application. The bank may fix the issue and run the process again if you have not received an allotment. Please reach out to your bank for more details.
@ShubhS9 by bank do you mean the bank where we have account or the bank which provides us the upi, i use Gpay where my upi provider is hdfcbank and i have account in indian bank, so which one should i contact ?. Please reply as soon as possible. Thanks.
Sometimes it may take up to the end of the day to receive the mandate. If it’s taking time, you can delete the application and apply again. Also make sure you’ve entered correct UPI details, you can refer to this support article for more.
Yes bro, but my bank is SBI nd internet banking getting failure when I’m applying tried 5 times still fail then i submitted through console with my mom UPI details, r u sure it will get reject, bcoz still i don’t get mandate, if i get mandate can i authorise it.
Ps @ShubhS9 bro pls tell me can i authorise mandate in upi