IPO - UPI mandate issues

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 rejectedā€¦

  • 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 confirmā€¦

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, Iā€™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.