UPI has simplified various payments, including paying for your IPO mandate. Upon bid submission, the system will ask you to provide a UPI ID to finish your application. This links your payment method for successful application submission.

PhonePe, Google Pay, Paytm, and BHIM apps have specific procedures to find and accept UPI mandates. To help you understand how UPI mandates function within different apps.

Understanding UPI IPO Mandate: How They Work

Through a UPI app, you request an IPO Mandate to reserve funds for an IPO application. The system blocks the amount, but it still shows in your main account balance. 

If you secure the IPO subscription, the system deducts the money from your account. If not, it becomes available for your use again. 

Your UPI app uses the IPO mandate you’ve approved to manage these transactions in your bank account.

Here’s how it works: When you apply for an IPO on Share.Market and use a UPI app for payment. You’ll get a request on your selected UPI app to set up the mandate. Sometimes, there might be a slight delay in receiving this request, so please be patient.

How Can I Find IPO Mandates on the PhonePe App?

Follow these steps to pay for your IPO mandate through PhonePe App:

Step 1: Go to your PhonePe app and click the bell icon on the top-right corner.

Step 2: Click on the Autopay request.

Step 3:  Once you confirm the details, click ‘Accept ‘ and enter your UPI PIN to confirm the application.  

The system will then reserve your funds for the IPO application. 

How to Find IPO Mandates on UPI Apps?

How Can I Find IPO Mandates on the GPay App?

Here’s how to pay for your IPO mandate using the Google Pay App:

Step 1: Open your GPay account, click on your profile icon in the top-right corner, and scroll down to ‘Autopay.’

Step 2: Select ‘Autopay’ to authorise. Confirm it by entering your UPI PIN to confirm the application.

Your funds will then be set aside for the IPO application.

How Can I Find IPO Mandates on the Paytm App?

Here’s how to pay for your IPO mandate using the Paytm App:

Step 1: Click on the notification that indicates the IPO mandate request.

Step 2: Review the details and then confirm and accept by entering your UPI PIN. The mandate request to complete your IPO subscription.

Your funds will be reserved for the IPO application.

How Can I Find IPO Mandates on the BHIM App?

Follow these steps to pay for your IPO mandate using the BHIM App:

Step 1: When using the BHIM app to pay the UPI mandate, you must launch the app and look for the Mandates area, often shown on the home screen.

Step 2:  Here, you’ll see all the mandates listed and their details. Select the applicable one and click on proceed. Enter your UPI PIN to complete the payment.

Your funds are blocked for the IPO application.

Final Thoughts

To recap, UPI simplifies payments, including for IPOs. Use your UPI ID when bidding for a seamless process. Different UPI apps have specific methods to manage mandates, ensuring user flexibility. Follow the steps to secure payments and reserve funds for IPOs.

FAQs

What happens if I don’t receive an IPO mandate?

Usually, you’ll receive a message or notification confirming your mandate shortly after applying. But, sometimes, there might be delays because of technical problems. If, after six hours of submitting your offer, you have not received the SMS or notification confirming the blocking of the amount, you may need to reapply.

Do I get a refund if I don’t receive shares in the IPO?

Following the allocation of shares, your funds are usually released. Yet, in some cases, certain banks hold onto the funds until the mandate naturally expires.

Can I approve the IPO mandate after 5 p.m.?

As per the Exchange notification, the mandate acceptance period ends at 5 p.m. on the IPO closing day.