How to find IPO Mandate on PhonePe?
Investing in IPOs through Kotak Securities is straightforward with UPI-based payments. Once you submit your IPO application, a UPI mandate request will be sent to your payment app—such as PhonePe—asking you to authorize the amount to be blocked in your account. To ensure your IPO application is processed smoothly, it's crucial to know how to locate and approve the mandate request.
In this article, we’ll guide you through the steps to approve the IPO mandate using PhonePe, address potential delays, and explain what to do if the mandate request doesn’t arrive on time.
Steps to Approve Your IPO Mandate on PhonePe
1. Open the PhonePe App
Launch PhonePe and tap on the notification bell icon located on the dashboard.
2. View the Autopay Notification
Tap on the notification for autopay related to your IPO application. The request will display the IPO company name you applied for.
3. Accept the IPO Mandate
Tap on the Accept button to proceed with the IPO mandate request.
4. Review the Details
On the Set Autopay screen, review the IPO company name, UPI ID, the amount to be debited, and the bank through which the payment will be processed. Confirm the mandate by entering your UPI PIN.
Important Points to Keep in Mind
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Possible Delays in Receiving the Mandate Sometimes, there may be a slight delay in receiving the IPO mandate approval request on PhonePe. This delay can take up to 24 hours, so we recommend being patient during this time.
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What to Do if You Don’t Receive the Mandate If the mandate request isn’t received within the expected timeframe, you can cancel the IPO application and reapply. This will trigger a new mandate request.
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What Happens to Blocked Amount if IPO Not Allotted If the IPO is not allotted to you, the blocked amount will be released back into your account within 24-48 hours.
By following these simple steps, you can ensure that your IPO application through Kotak Securities is processed smoothly using PhonePe. While delays are rare, being aware of the process and your options in case of any issues is essential. If you have further questions or need assistance, feel free to reach out to our customer service team for help.
Happy investing with Kotak Securities!