Upi mandate issues

This is so strange… The whole effort of opening a new account for my Dad on Zerodha few days ago to apply for these IPOs has been wasted if this doesn’t work now…

As your application got rejected, you can delete it and apply again. No mandate request will appear for rejected application. But cross check your SMS for application number while accepting new mandate request

Subscription has been closed, you cannot modify or cancel. You need to wait till 27th to check allotment. Good luck…!!

If IPO Mandate doesn’t get setup due to featur missing in ICICI Apple iphone App then how will I get an allotment?

you are right but is sponsor bank says wrong upi handle to BHIM APP how can i re apply and block amount for another lot for next 48 hrs ? usually these type of issue are raise with IPO whose registrar is linkintime.last time in SBI card also face same issue and tried again 3 times amount blocked 3 times didn’t get allotment . i got Happiest minds IPO with same broker and UPI .

Choose Bank ASBA method over UPI. Reasons being:-

IPO UPI Method Bank ASBA Method
Availability In Console, the IPO window is open for placing a bid only between 10 am - 5 pm like a Government office :laughing: You can apply anytime by logging into netbanking
Multiple Bids (updated) In UPI Method, you could place bid once for yourself only You cannot apply multiple times for yourself from your different bank accounts, but what you can do to increase chances is you can apply under your name, your family members’ names given that they too have separate Demat ID and PAN. You are simply taking chance with multiple Demats (of your family members) through your multiple bank accounts. Although this does give any guarantee of allotment.
Latency After applying, the notification to authorize the IPO application in your UPI app may take time. It may or may not be instant. Once logged into netbanking account it’s just a matter of a click.
Can Apply > 2 Lakh? No Yes

Ipo applied n mandate accepted on phonepe app…bank amount is set hold but blocked amount in kite app >ipo section>chemcon application is still showing zero “0” amount blocked n status as “pending”

Y is that ???

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Answered above.

Correct me if I am wrong, but doesn’t submission of multiple bid-cum-application forms within a single category be liable for rejection ?

As far as I can recollect, the General Information Document in every book-building IPO has the following clause:

Bidder should submit only one Bid cum Application Form. Bidder shall have the option to make
a maximum of Bids at three different price levels in the Bid cum Application Form and such
options are not considered as multiple Bids.
Submission of a second Bid cum Application Form to either the same or to another Designated
Intermediary and duplicate copies of Bid cum Application Forms bearing the same application
number shall be treated as multiple Bids and are liable to be rejected.

Continuing the discussion from Upi mandate issues:


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same issue.

I’ve applied for 2 IPO & received UPI mandates for both. While I was accepting them, one was successful but the other one failed due to some technical error. Any possible solution for this ?

Have your funds been blocked for the unsuccessful mandate?

If yes, then RTA will still consider your application as funds have been blocked with the bank.

If no, then you can delete the application and make a new one. Though CAMS and Chemcon IPO’s have been closed now, if your application was for one of this you won’t be able to apply again. If it is Angel Broking, you still can.

My apologies. Thanks for correcting me. I have updated my previous comment.

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Even I haven’t received it till now (it’s past 12pm already

Thanks for sharing the info, by the way… Like UPI, applying through Net-Banking is also accessible by everyone… And given the issues faced under UPI currently, right from the time of application till the time of unblocking of funds, applying through Net-Banking seems like a breeze.

If we apply through Net banking I think we will not face such kind of issue that we faced with UPI Mandate , and can anybody tell me if we use net banking is there any chance of removing amount block status from bank once refund process initiate from IPO So we will not wait till Mandate end

In case of application through Net-Banking, the amount blocked is released within 1 day from the date of finalisation of the basis of allotment.

I think it can be done in Netbanking of HDFC. You can unblock funds after allotment. In IPO window of HDFC NETBANKING, the 4th tab in top contains RELEASE FUNDS where you can unblock your money. I also hope all major banks have this option in their IPO window. Correct me if i am wrong

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