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Faqs For Ipo Application With Upi Id (Asba) : Page - 1
Faqs For Ipo Application With Upi Id (Asba) : Page - 1
What is UPI?
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 infrastructure and allows you to instantly transfer money between any two
parties' bank accounts.
How I can use UPI model for placing the IPO bid/order?
After necessary mobile verification in this flow and placing the IPO (online) order
you need to mention your VPA (Virtual Payment Address) in Payment option.
On successful placement of your bid you will receive a collect request on your
Bank’s Mobile app for your authentication.
On successful authentication the Bid amount will be mark as lien in your account
by your bank (as per ASBA guidelines) and your bid will be registered with
exchange.
On allotment of shares the amount will be debited from your account else the
amount will be released.
Note - Under the ASBA process, the amount is not debited from your bank account
until successful allotment. Until such allotment, the amount will remain blocked in
your bank account.
What is VPA?
A Virtual Payment Address (VPA) is an ID, which a user creates by linking their bank
account to a bank's mobile application.
Does a customer need to register bank account or VPA before transacting in IPO using
UPI?
No, you can specify your VPA at the time of bid placement.
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FAQs for IPO application with UPI ID (ASBA)
Can I transact with UPI on ICICI Direct only during banking hours?
You can place IPO application with UPI on ICICI Direct 24/7 during IPO period and
confirm the funds blocking request till T+1 day of IPO closing date (T day is IPO closing
day).
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FAQs for IPO application with UPI ID (ASBA)
Can I apply multiple application in single IPO with same PAN through different routes?
Only single application per PAN is allowed in single IPO. Multiple applications with
same PAN in an IPO even applied through different modes (online/physical) will not be
considered for allotment.
How many IPO application I can place through single mobile login in single IPO?
You can place maximum 4 IPO applications with unique UPI ID for 4 different investors
through single mobile login.
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