IndiaSEBI allows Individual Investors can pay through UPI for up to Rs...

SEBI allows Individual Investors can pay through UPI for up to Rs 5 lakh in IPO

Individual investors will get the facility on the published issue opening on or after May 1, 2022, UPI ID will have to be given along with the application.

There is good news for individual investors applying for public issue of equity shares and convertibles. Such investors can now make payments up to Rs 5 lakh through Unified Payment Interface (UPI). Market regulator Securities and Exchange Board of India (SEBI) gave this information on Tuesday.

The new guidelines will be applicable from May 1, 2022

Along with this, these investors have also been asked to provide UPI ID in the bid and application form. This has to be done on submission of the form through Syndicate member, share broker, depository participant and registrar of any issue and share transfer agent.

SEBI has said in its circular that these new guidelines will be applicable for public issues opened on or after May 1, 2022.

How to Send Money Transfer UPI Lite Payments without Internet Connection Rs.200 to 2000

The decision has been taken after the National Payment Corporation of India (NPCI) reviewed the convenience of processing applications with the increased UPI limit. NPCI had increased this limit from Rs 2 lakh to Rs 5 lakh in December 2021.

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