IPO FAQs
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Q What is a UPI ID?A
UPI ID (also called Virtual Payment Address or VPA) is a unique ID for using UPI. The UPI Id can be created by registering with one of the UPI enabled mobile applications (App) using your bank account details. Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over the IMPS (Immediate Payment Service) infrastructure and allows you to instantly transfer money between any two parties' bank accounts.
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Q Benefits of UPI?A
- Increase efficiency & simplified process
- Eliminate manual intervention at various stages
- Ease of operation for members
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Q Which category of customers which need UPI?AAll customers except Trinity client (3in1 accounts) will require UPI ID to place orders in IPO’s.
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Q How to Create UPI ID on BHIM APP - FIRST TIME USER (example)?A
- Step 1: Download and Install BHIM app from Google Play store or Apple App store
- Step 2: Select your preferred language
- Step 3: Select SIM which has mobile number that is registered with your bank
- Step 4: Login by setting a 4-digit application password
- Step 5: Select and link your desired bank account
- Step 6: Set your UPI PIN by providing last 6 digits and expiry date of debit card
Debit card is mandatory; in case you do not have one please contact your bank - Step 7: In case of multiple Bank Accounts linked to the same Mobile; User has to select Primary Account – through which he will make IPO Application
- Step 8: UPI Id will be 9********0@UPI (user’s mobile no.@UPI so if mobile no. is 9820098200 – UPI id will be 9820098200@UPI)
- Step 9: You have to mention the above UPI Id onto IPO Application BHIM is a unique payment solution which can be used without internet as well!! You can dial *99# from any phone and avail the same features of BHIM on your mobile screen. You can also register for BHIM using *99#
From when, use UPI as a payment option in public issues, has been made available?
UPI as a payment mechanism is available for all public issues for which Red Herring Prospectus is filed after January 01, 2019. -
Q From when, use UPI as a payment option in public issues, has been made available?A
UPI as a payment mechanism is available for all public issues for which Red Herring Prospectus is filed after January 01, 2019.
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Q How do I select UPI as the payment option while applying for public issues?A
The application form for an IPO, now also includes a field for entering your UPI ID as a payment mechanism. Further, you can get in touch with any of the Intermediary who shall be able to guide you on the process in detail.
For additional information, you may visit https://www.sebi.gov.in/sebi_data/commondocs/mar-2019/useofunifiedpaymentinterfacefaq_p.pdf
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