IPO: SEBI announces new rule | All you need to know
This comes after National Payments Corporation of India (NPCI), which manages the online payment system UPI, undertook system audits and found that a hike in the limit was required, Sebi said.
So, you can bid upto Rs 5 lakh through UPI for IPOs that will open on or after May 1.
Willing to invest in an initial public offering (IPO)? Here is good news for you. Investors will be allowed to apply in IPOs through Unified Payments Interface (UPI) mode for up to Rs 5 lakh per application, according to an announcement made by the Securities and Exchange Board of India (Sebi).
Earlier, the limit was Rs 2 lakh. The new rules will come into effective from May 1, 2022.
So, you can bid upto Rs 5 lakh through UPI for IPOs that will open on or after May 1.
This comes after National Payments Corporation of India (NPCI), which manages the online payment system UPI, undertook system audits and found that a hike in the limit was required, Sebi said.
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