<p>Capital markets regulator Sebi on Tuesday said individual investors applying in public issues of equity shares and convertibles can use Unified Payment Interface (UPI) for application amount up to Rs 5 lakh. Also, they have been asked to provide their UPI ID in the bid-cum-application form submitted with any of these entities – syndicate member, stockbroker, depository participant and registrar to an issue and share transfer agent.</p>.<p>The new guidelines will come into force for public issues opening on or after May 1, 2022, Sebi said in a circular.</p>.<p>The decision has been taken after National Payments Corporation of India (NPCI) reviewed the systemic readiness required at various intermediaries to facilitate the processing of applications with increased UPI limit.</p>.<p>As on March 30, 2022, more than 80 per cent of Self Certified Syndicate Banks (SCSBs)/Sponsor Banks/UPI Apps have conducted the system changes and have complied with the NPCI provisions.</p>.<p>In December 2021, NPCI enhanced the per transaction limit in UPI from Rs 2 lakh to Rs 5 lakh for UPI-based Application Supported by Blocked Amount (ASBA) in Initial Public Offers (IPOs).</p>.<p><strong>Check out latest DH videos here</strong></p>
<p>Capital markets regulator Sebi on Tuesday said individual investors applying in public issues of equity shares and convertibles can use Unified Payment Interface (UPI) for application amount up to Rs 5 lakh. Also, they have been asked to provide their UPI ID in the bid-cum-application form submitted with any of these entities – syndicate member, stockbroker, depository participant and registrar to an issue and share transfer agent.</p>.<p>The new guidelines will come into force for public issues opening on or after May 1, 2022, Sebi said in a circular.</p>.<p>The decision has been taken after National Payments Corporation of India (NPCI) reviewed the systemic readiness required at various intermediaries to facilitate the processing of applications with increased UPI limit.</p>.<p>As on March 30, 2022, more than 80 per cent of Self Certified Syndicate Banks (SCSBs)/Sponsor Banks/UPI Apps have conducted the system changes and have complied with the NPCI provisions.</p>.<p>In December 2021, NPCI enhanced the per transaction limit in UPI from Rs 2 lakh to Rs 5 lakh for UPI-based Application Supported by Blocked Amount (ASBA) in Initial Public Offers (IPOs).</p>.<p><strong>Check out latest DH videos here</strong></p>