You can apply in IPO using BHIM application which is a UPI application, Basically, UPI (Unified Payments Interface) is an instant payment system on the mobile platform, In addition, UPI also allows blocking money for special purposes like IPO applications.
SEBI permitted UPI as an alternative payment option for retail investors (Up to Rs 2 Lacs) to invest in IPO.
For Applying In IPO first, you have to install & register on BHIM application on your smartphone, Post-registration you have to send a mail at Support@sasonline.in containing Bid details (Client ID, UPI id, Number of lots would like to bid (max to Rs 2 lacs))
After placing Bid for the particular IPO we will inform you via mail along with order no. and you will receive a mandate on your BHIM App and need to confirm it. (BHIM>>My Information>>My Mandate>>Pending)>>Process)
Verify your Bid details & SAS Demat Account details and click on process button.
Create a mandate and click on confirm
Enter your BHIM UPI password & your mandate will be verified & the required amount will be blocked on your bank account.
After this, you will receive a confirmation SMS from your bank and from NSE also by end of the day.
Points To Remember
1. Bids via UPI are placed for Retail investors only in which maximum order size is of Rs 2 lakh.
2. The IPO application is liable to get rejected if the person who is applying is different from the one whose bank account is used to apply
3. For upcoming IPO list, you can refer NSE website via this Link
4. Cut of timing for bids is 3:30 PM on the last day of bidding.