UPI as part of bidding
4.1. Investor will fill in the bid details in the application form as per the existing process
along with his UPI id i.e. use only his/her own bank account linked UPI ID with
application.
4.2. As per the existing process,investor may submit the application with any of the
intermediary (Syndicate Member / Registered Stock Brokers / Registrar and Transfer
Agents / Depository Participants),who, on receipt of application will upload the bid
details along with UPI id in the stock exchange bidding platform.
4.3. The stock exchange will electronically share the bid details along with investors UPI
id, with the Escrow/Sponsor Bank appointed by the issuer company.
UPI as part of blocking
4.4. The Escrow / Sponsor Bank will initiate a mandate request on the investor i.e. request
the investor to authorize blocking of funds equivalent to applicant amount and
subsequent debit of funds in case of allotment.
4.5. The request raised by the Escrow/Sponsor Bank, would be electronically received
by the investor as SMS/intimation on his / her bank provided mobile no. linked to UPI
ID.
4.6. Upon validation of block request by the investor, the said information would be
electronically received by the investors’ bank, where the funds, equivalent to
application amount, would get blocked in investors account. Intimation regarding
confirmation of such block of funds in investors account would also be received by
the investor.
UPI as part of payment for shares post allocation process
4.7. The registrar to the issue, based on information of bidding and blocking received
from stock exchange, would undertake reconciliation and prepare the basis of
allotment.
4.8. Upon approval of such basis the instructions would be sent to sponsor bank to credit
funds in the public issue escrow account and unblock the excess money in the
investors account.
4.9. Based on authorisation given by investor using UPI at the time of blocking, the funds
would be debited from investors account