Can I use a third-party UPI ID/ bank account to block funds for an IPO application?

While applying for an IPO through Geojit, investors must use their own UPI ID of the bank account registered with their trading account. IPO applications through third-party UPI IDs and bank accounts are not permitted. If placed, such bids will not be considered for allotment by the Registrar and Transfer Agent (RTA).

Individuals can place IPO applications through UPI using the eIPO facility on MyGeojit /Whatsapp/Telegram for bids up to Rs. 5 lakhs. Applications above Rs. 5 lakhs must currently be placed through the net banking ASBA facility provided by your bank.

Investors can apply for eIPO via UPI fund blocking only if their bank is UPI 2.0 enabled. View the list of eligible banks.

The cut-off time for acceptance of the UPI mandate is 5:00 p.m. on IPO closure day. Only UPI bids with the latest status as "Block Request Accepted by Investor" shall be considered valid. Investors are advised to place bids well in advance and approve the UPI mandate within the cut-off time.

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Can I use a third-party UPI ID/ bank account to block funds for an IPO application?