UPI 2.0 live for IPO - National Stock Exchange(NSE) & Bombay Stock Exchange(BSE)

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Finance Ninja
abhishek012

UPI 2.0 live for IPO – National Stock Exchange(NSE) & Bombay Stock Exchange(BSE):

IPO Application process:

Now you can use your UPI ID as a payment option while subscribing for IPO on National Stock Exchange(NSE) & Bombay Stock Exchange(BSE). Simply tell your broker to use UPI ID as the payment option while filling the IPO application.

https://cdn0.desidime.com/attachments/photos/597680/medium/560258000rdRdQ.jpg?1575656311

UPI Apps & Banks live on IPO:

https://cdn0.desidime.com/attachments/photos/597681/medium/5602580SZYNjmt.jpg?1575656316

Advantages/Value add:

Enjoy the instant fund transfer experience of UPI while subscribing for IPO
Instant mandate creation ensures real time application submission
Customer support for transaction related issues

View Frequently Asked Questions: https://www.npci.org.in/sites/default/files/FAQ...

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Deal Subedar Deal Subedar
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When you have ASBA utility from most of the banks, why at all you should transfer for IPO application?

Analyst Analyst
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Because most people were using ASBA for multiple application in friends and family members to increase chance of allotment. Now with UPI, this will atleast stop till people find loophole.

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Deal Cadet Deal Cadet
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Can you now link CA with UPI?

Finance Ninja Finance Ninja
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UPI-based payments for IPOs from Jan 1, 2019 in a three-phased manner

The implementation of new payment system for IPOs will be carried out in a three-phased manner.

In the first phase, retail investors will get the option of UPI payments along with the existing options. The first phase will be between January 1 and March 31, 2019. The second phase will begin thereafter for a period of three months, when retail investors will get the option of only UPI payment.

The listing timeline in the first two phases will remain six working days. After completion of six months or 10 IPOs—whichever is later—the timeline will reduce to three days.

The biggest impediment in reducing listing timeline for Sebi has been cheque payments. The UPI mechanism will help do away with physical handling of forms, said market players.

Reduction in listing timeline will give a boost to the IPO market as it will have issuers and investors tide over market volatility.

Benevolent Benevolent
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Atmost u can transfer only 1lk right .?

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Finance Ninja Finance Ninja
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Sebi defers phase 1 of UPI for retail IPO investors till June 30, 2019:

Markets regulator Sebi Wednesday extended the timeline for the implementation of phase 1 of Unified Payments Interface (UPI) as an alternative payment mechanism for retail investors buying shares in a public issue.

To ensure smooth transition to UPI in ASBA (Application Supported by Block Amount) and in the back drop of the representation received from various stakeholders, Sebi said, “it has been decided to extend the timeline for implementation of Phase I… by 3 months i.e. till June 30, 2019”

However, the timeline for implementing phase 2 and phase 3 shall remain unchanged from the date of completion of phase 1, Sebi said in a circular.

In November 2018, the regulator had said it would launch UPI as an alternative payment option for retail investors buying shares in a public issue in a phased manner from January 1, 2019, which will cut listing time for an IPO to three days from existing six days.

It had further said the new mechanism would increase the efficiency of the existing system and curtail the need for manual intervention.

Currently, retail investors either invest in an initial public offering (IPO) through bank ASBA or through broker ASBA, where the broker does the bidding and hands over the application form to the investors’ bank.

With the UPI mechanism, the existing process of physical movement of forms from intermediaries to banks for blocking of funds will be discontinued.

Deal Cadet Deal Cadet
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Any idea if they will link Current accounts to UPI?

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