Can I subscribe LIC IPO via Google Pay or any other UPI apps like Paytm, Phonepay, Amazon pay, cred or bank UPI apps ? Most trending query on search engines in recent time. The answer is simply YES. Anyone can subscribe for LIC IPO using UPI or Google Pay after following the below steps. The subscription of IPO using UPI is supported for almost all the partner banks like Canara Bank, PNB, SBI, Bank of India, Bank of Baroda , HDFC, Axis Bank etc.
Steps to subscribe LIC IPO Via Google Pay or UPI
Key Highlights :
Step 1: Login to your Trading platform and select option IPO. Enter your UPI ID on the IPO application form and submit it
Step 2: Open your Google App. You will get a fund block request on Google Pay app
Step 3: Approve the request in the Google Pay App to block the amount for the IPO
Step 3: The funds will be blocked in your registered bank account until allotment, when it is debited. The limit for IPO application is Rs 2 lakh per transaction on UPI.
Step 4: On allotment of the shares, the money will be automatically debited from this blocked amount.
NOTED – The shares that have not been allotted to you, the blocked funds will be unblocked on the end date or expiry date of the mandate.
Also Read – How To Check IPO Allotment Status Online ?
This is to remember that the Bank account registered with Google Pay or IPO must be same with the trading platform. For e.g. If you are having Trading account with CANMONEY or ZERODHA, and registered bank account is with Canara Bank, the same account must be registered with Google Pay or UPI apps. The request will be failed incase of different account or non registered account.
Common Do’s and Dont’s for the IPO using UPI:
- Do not make the Application Form using third party bank account or using third party linked bank account UPI ID;
- Do not link the UPI ID with a bank account maintained with a bank that is not UPI 2.0 certified.
- Do not submit more than one Bid cum Application Form for each UPI ID in case of RIBs Bidding using the UPI Mechanism
- Do not submit incorrect details of the DP ID, Client ID, PAN and UPI ID details if you are a RIB, Eligible Employee or an Eligible Policyholder, Bidding through the UPI Mechanism.
- Note that investors using the UPI Mechanism should mention valid UPI ID of only the Bidder and of the first Bidder (in case of joint account.)
- Ensure that they use only their own ASBA Account or only their own bank account linked UPI ID to make an application in the Offer and not ASBA Account or bank account linked UPI ID of any third party.
