You can now apply for IPOs using UPI

ipo using upi 1 You can now apply for IPOs using UPI

We were providing our clients with the option of ASBA to apply for IPOs on our website. SEBI has recently made it mandatory for all IPOs to be supported by UPI. You can now apply for IPOs using your UPI ID. All you have to do is go to www.tradeplusonline.com, logon to  to IPO/GSEC/Bond section, enter UPI ID, Quantity, bid price and submit. This is a completely an online process and requires no paperwork.

What is UPI

UPI an instant payment system developed by the National Payments Corporation Of India (NPCI) is made mandatory for Initial Public Offering (IPO) applications since July 2019. UPI is a payment option available on mobile platform. UPI provides the facility to transfer funds from one person’s bank account to another person’s bank account on real time basis.

For IPO application, UPI payment method is used to block the funds in one’s account similar to ASBA process. Investors who have UPI ID shall mention it in their IPO application. This will be used by the stock broker to submit the bid in stock exchange platform.

Benefits of UPI for IPO applications

  • Easy and simplified process
  • Reduction of time period between closure of IPO and listing date is considerably reduced to just 3 days as against 6 days earlier.
  • Similar to ASBA process, money will be blocked in your bank account till the allotment
  • Reduction of manual intervention in the process

Process of setting UPI Id with BHIM app

  • Download and install BHIM app from play store or APP store
  • Set your language
  • Select the mobile number that is registered with your bank
  • Login by setting a 4 digit password
  • Select and link your bank account
  • Provide the details of your debit card and set your UPI PIN.

Step by step process to apply for IPO through Tradeplus

  • Go to our website tradeplusonline.com
  • Logon to IPO/GSEC/Bond section under “My Account”
  • Click “Apply”  button against the IPO issue you wish to invest in IPO You can now apply for IPOs using UPI
  • Enter your UPI ID, Bid Quantity, Bid Price and submit
  • Your  bid details will be uploaded  in the stock exchange platform
  • You will receive a notification on App /SMS  on your mobile linked to UPI ID
  • You need to confirm the  UPI mandate on Bank/BHIM app to process your application.

Quick Demo: 

ezgif.com crop 11 You can now apply for IPOs using UPI

For any clarification, do email to us at support@tradeplusonline.com.pngkey.com learn more button png 615210 300x105 You can now apply for IPOs using UPI

Related Post

2 Comments

Add a Comment

Your email address will not be published.