IPO - UPI mandate issues

Stocks IPOs
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You may face the following UPI mandate issues when applying for an IPO:

  1. 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.
  2. 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.
  3. Received the mandate but unable to accept the request - Same as above
2 Likes
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Can I do this @mohitmehra?

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Yes, lets say you have an account with HDFC and Yes bank. Even if only HDFC is mapped with Zerodha, you can use the UPI handle that you’ve made for Yes bank.

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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…!!!

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@siva
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?

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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?

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UPI-Mandate for Rs 14950.00 could not be cancelled due to UM8.

This is the message which I received while refund and I have not received the refund amount. So what should I do now

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I also received same msg … pls suggest how can we get this resolved and get the refund

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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.

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@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.

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You have to go to the indian bank, the hdfc bank is the gpay provider so where your money is blocked you have to
visit there.

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Yesterday Had applied for Clean Science IPO through BHIM. Application submitted but haven’t received the Mandate yet. How long does it take to receive the Mandate?

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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.

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After applying for the ipo the amount to be blocked should be reflected in the bank account or no?

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No, the amount won’t reflect in your bank account.

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Bro, i submitted my clean science ipo with my mom bank ac upi details, nd zerodha having my account is there will be any problem, i just applied didn’t received my mandate yet? @ShubhS9

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You can only apply from a bank account that is in your name. The RTA will reject your application if you apply from a third-party bank account.

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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

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If joint name either 1st holder or 2nd holder in bank account .
Allowed ?

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Refer to this thread -