All you need to know about the new UPI-based IPO application process
Updated : July 30, 2019 02:23 PM IST
The introduction of the UPI facility is eventually expected to quicken the entire IPO process. Affle India’s IPO, which opened on Monday, will be the first instance of application through the medium. The UPI system allows the instant transfer of funds between two banks.
Till recently, you could invest in an IPO using the ASBA (application supported by blocked amount) facility offered by SCSBs (Self-certified syndicate banks).
UPI-based IPO application is made mandatory for retail investors who have accounts with banks whose names appear on SEBI’s website.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more