The Securities & Exchange Board of India (SEBI) has introduced for retail investors applying through registered brokers, DPs (depository participants) and RTAs (Registrar and transfer agents) to invest in IPOs through the UPI mode. The process for applying for IPO is very easy to understand.
How to Apply?
- Create your Kotak UPI ID/VPA by opening the BHIM UPI section of the Kotak Mobile Banking app. Please click here to learn how to create UPI Id.
- Please input your Kotak UPI ID/ VPA or any other UPI ID (of UPI 2.0 enabled Apps linked to your Kotak Bank account), in the IPO application form and submit the same during IPO issue period.
3. A mandate request will be sent to your Kotak Mobile banking app (if Kotak UPI is used) or other UPI App (if any other UPI id is used) which you need to approve by entering UPI PIN post checking all the details in the mandate request.
- Once approved, the amount will be blocked in your Kotak Bank account and will not be available till end date or expiry date of mandate for
- If you get the share allotment, the amount will be debited from your account
- If you do not get the shares, the block will be removed and the amount will be release for use in your Kotak Bank account.
- In case of partial allotment of shares, the corresponding amount would be debited and the remaining amount will released to the customer’s account
More details on the process, the list of enabled apps and banks, visit: NPCI , SEBI
