SEBI Update: Revision of UPI limits in Public Issue of Equity Shares and convertibles

SEBI vide circular dated 5^th April 2022 has brought revision of UPI limits in Public Issue of Equity Shares and convertibles.

NPCI   vide circular reference no. NPCI/UPI/OC   No.   127/   2021-22 dated December  09,  2021,  inter alia,  has 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).

Accordingly, now it  has  been  decided  that  all Individual  Investors  applying  in  Public Issues where  the  application  amount  is  upto  5  Lakhs  shall use  UPI  and  shall  provide  their  UPI ID  in  the  bid-cum-application form  submitted  with  any  of the entities mentioned herein below:  

I. Syndicate member

II. Stock  broker  registered  with  a  recognised  stock  exchange

III. Depository  participant  (‘DP’)

IV. Registrar to an issue and share transfer agent (‘RTA’)

This circulars shall come into force for Public Issues opening on or after May 01, 2022

Circular link:

https://www.sebi.gov.in/legal/circulars/apr-2022/revision-of-upi-limits-in-public-issue-of-equity-shares-and-convertibles_57589.html