Updated: Mar 3
It’s confirmed that from March 2020 (phase 2) onwards it will be mandatory for retail investors to apply IPO only via UPI. i.e. you will no longer be able to apply IPO via net banking by mentioning your Demat acc number.
Here I will explain How to Apply IPO via UPI in Upstox
Note: You can open Demat account in Uptox in just 3 hours (here) or If you have any other Demat account then you may contact your broker if they allow IPO application via UPI.
Follow the steps:
1. Open http://pro.upstox.com/
2. Drop your login id and password followed by your DOB.
3. Go to Apply for IPO
4. You can see active IPOs here, currently, SBI Card IPO is live. Click on Details
5. Now Place bid
6. Write your UPI id here.
7. Write Bid price and quantity.
8. Place order
9. You have successfully applied here but… this is not the end pal, see further steps to complete the process.
Now, open BHIM UPI App on your mobile phone.
10. Go to Approve to pay.
11. It may take some time to receive the request here but once you can receive the IPO request, you can see it here in the Pending category.
Approve and done!
Congratulations! you have successfully applied for IPO.
You can clarify your specific queries at FAQ: UPI 2.0
Source: Blog | equityboxx
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