@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.
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.
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?
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.
After applying for the ipo the amount to be blocked should be reflected in the bank account or no?
No, the amount won’t reflect in your bank account.
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
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.
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
If joint name either 1st holder or 2nd holder in bank account .
Allowed ?
Refer to this thread -
Can minor apply for IPO , FPO , right issue etc ?
Sometimes it may take up to the end of the day to receive the mandate, you can accept it but during the allotment RTA will reject your application as there will be Name, PAN mismatch between your Demat and Bank account.
Thanks bro, then i will reject the mandate.
Hi Shubh, are you sure about this? because i used to apply with multiple demat (family)with my account but application was never rejected…
- others can shares their experiences
You can refer to the Point No. 19 on the NPCI FAQ.
Can I use third party UPI ID or a third party bank account for making payment in IPO?
No. Applications made by retail investors using third party UPI ID or by any category of investors using a third party bank account are liable for rejection.
@ShubhS9, if one is applying for IPO using UPI, the money needs to be in the bank account right? Or does it need to be in the trading account?
Never applied using UPI before, so want to confirm…
You will need to have funds in your bank account. Funds in the trading account cannot be used as SEBI allows IPO application only using ASBA through Netbanking and UPI.
You can check out the UPI application process here and Netbanking process here.
I have placed 3 bids for the ipo from the console, but I have received only one mandate with amount payable equal to one bid price. So, I’m confused if my 3 bids have been placed or only one bid has been placed. Can someone tell me is this how it works? coz, this is my first time applying for an ipo.
If you are new, place 1 bid at cut-off price with intended number of lots.
The price-band is way too narrow for an significant difference.
Besides, read how IPO allocation happens in retail as well as other categories.