Unified Payments Interface (UPI) added another feather to its cap when NPCI in association with Securities and Exchange Board of India (SEBI), rolled out UPI as an alternative payment option for buying shares in a public issue (IPO).

Some of the immediate benefits that UPI shall provide to the public issue listing process are;

• It reduces the time from closure of bidding to the listing to 3 days from the extant 6 days.
• The UPI 2.0 mandate feature of One time blocking shall ensure that the amount remains Blocked (and not debited) in the customer’s account till allotment is done, as currently happening in the ASBA process.
• Reduces the need for manual intervention and logistics at various stages of the IPO process.

Product milestones

AePS

UPI

IMPS

NETC