- After submitting the IPO application, the mandate request is sent by the National Payments Corporation of India (NPCI). The UPI mandate request should be approved before 5 pm of the issue closure date.
- There can be many instances related to mandate request as:
1) IPO UPI Request Not Received: - - If the mandate request is not received within an hour of a successful application submission, it is advisable to delete and resubmit the application.
- However, before re-submitting, check the following:
- If the correct UPI ID was entered.
- If the UPI app is updated to the latest available version.
- If the UPI app and bank support IPO bids. Visit npci.org.in/what-we-do/ipo/live-partners.
2) IPO UPI MANDATE GET FAILED: - If the IPO UPI payment gets failed or the authorisation gets failed due to technical issues at the bank's end or with the UPI app. In such cases, cancel the original request and submit the new IPO application request.
3) IPO UPI MANDATE EXPIRED.
RELATED FACTS: - If a client uses the wrong UPI ID or cannot receive a mandate request for any reason, they cannot delete their application. However, they can apply using Net banking ASBA. The application through net banking will still be considered unique and eligible for allotment since the UPI mandate step was not completed.
- Sometimes, it might take until the close of the day for the mandate to arrive, and the status may not reflect on Space. As long as the funds are held in the bank for a valid application, the registrar and transfer agent (RTA) will assess the bid for allotment.
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