Booking and Application Process: UPI and ASBA
Understand how to apply for IPOs using UPI and ASBA, and common tips to avoid errors.
ASBA Basics
ASBA (Applications Supported by Blocked Amount) lets you apply for IPO without upfront debiting your bank account.
The amount is blocked in your bank account until shares are allotted or refunded.
Good Point
ASBA avoids unnecessary debit and enables faster refunds.
UPI Mandate Flow
Recent regulatory changes allow IPO application through UPI (Unified Payments Interface).
UPI mandate is generated and blocked when you apply; you approve it on your UPI app.
Check Points
Ensure correct UPI ID linked to your demat account. Respond promptly to UPI mandate approval to avoid application failure.
Common Errors and Fixes
Common mistakes include incorrect UPI ID, expired mandates, or multiple applications with the same UPI.
Verify your bank and Demat details before applying.
Warning
Application rejections due to UPI errors are common; double-check before submitting.