How to create a UPI ID for buying an IPO- Check limit, steps and other details

When you apply for an IPO, the application sum is impeded in your record until the allotment date.

How to create a UPI ID for buying an IPO- Check limit, steps and other details
How to create a UPI ID for buying an IPO- Check limit, steps and other details



UPI (Unified Payments Interface) is broadly used to move cash consistently. UPI is extremely beneficial to all of us, whether we use it to send money or pay bills. 

Traders can now purchase IPO using UPI. Presently, the Security Exchange Board of Directors(SEBI) has made required UPI for every one of the applications through enrolled stockbrokers, RTA's (Enlistment center and move specialists), and DPS (safe members). Through UPI, trades can apply for an IPO.


The application amount is held in your account until the allotment date once you apply for an IPO. If you get the IPO, the money is taken out of your account, and the shares are moved to your Demat account. 

Be that as it may, in the event that you don't get the Initial public offering, the hindered cash is delivered by the bank. Before applying for an IPO, having a Demat account is recommended by SEBI. 

 
Limits for UPI in Initial Public Offerings (IPOs) were increased by Rs 5 lakh by SEBI.

The most effective method to make a UPI ID for purchasing an Initial public offering

Step1: Download the Payment Service Provider app like Paytm, PhonePe, and GPay.


Step 2: Enter the contact information for your bank account.

Step 3: Choose a password and the bank you want to connect it to.


Step 4: Create a pin for future transactions by filling in the information.


How to apply IPO using UPI

Step 1: Register  for UPI through Paytm and Google Pay.

Step 2: Enter your UPI ID on the IPO application form and submit it

Step 3: On the Google Pay app, you will receive a request to block funds. 

Step 4:  Approve the Paytm and Google Pay App request to block the IPO amount. 

Step 5:Your bank account will remain inaccessible to the funds until they are allotted and debited.

Step 6: The money will be deducted from this blocked amount automatically when the shares are distributed.

Step 7: The funds that have been blocked will be released on the mandate's end or expiration date in case you have not yet received the shares.

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