The UPI has been chosen as a transaction medium for applying to Initial public offerings (IPOs). Yes, you are reading right. With the UPI (Unified Payments Interface), you can bid for IPO without sharing your account number and name.

The Market Regulator SEBI (Securities and Exchange Board of India) has made it possible for the retail investors to apply through the UPI route. That’s really great news for the investors to bid for IPO in an easier way.

Affle India’s IPO is the first instance of application through the medium. This IPO will be closed on 31st July; you have limited time to apply for. Get more information about the IPO here…

The well-functioned UPI system will help investors to transfer funds quickly between two banks. However, you can only apply for the IPO if a bank (in which you have opened an account) is listed on SEBI’s website. If it’s not there; you can bid for the shares through SCSB or online trading or Demat account as usual.

Download the UPI application; register your bank name and transfer the funds quickly.