SEBI: Retail investors can bid upto Rs5 lakh for IPOs using UPI

6 Apr 2022 , 06:46 PM

According to the media reports, capital markets regulator SEBI has revised upwards the UPI payment limit for individual investors in public issues. Now individual investors can use UPI for up to Rs5 lakh payments in public issues, according to an official statement on Tuesday.

“NPCI has reviewed the systemic readiness required at various intermediaries to facilitate the processing of applications with increased UPI limit and confirmed that as on March 30, 2022, more than 80% of SCSBs, sponsor banks, UPI apps have conducted the system changes and have complied with the NPCI provisions,” Sebi said.

Further, the capital market regulator added that “accordingly, Sebi said it has been decided that all individual investors applying in public issues where the application amount is up to 5 lakhs shall use UPI and shall also provide their UPI ID in the bid-cum-application form submitted.”

In a SEBI circular, the new guidelines will come into force for public issues opening on or after May 1, 2022.

NPCI has reviewed the systemic readiness required at various intermediaries to facilitate the processing of applications with increased UPI limits and confirmed that as on March 30, more than 80 per cent of SCSBs, sponsor banks and UPI apps have been conducted the system changes and have complied with the NPCI provisions.