Finding making IPO applications a task? Applying through normal ASBA methods may be history if all goes well as per SEBI's plan
The market regulator is planning to introduce an alternative payment mechanism in initial public offers for retail investorsas it aims to speed up the listing process.
The regulator intends to allow the use of Unified Payments Interface (UPI), a mobilebased real-time payment system that enables instant transfer of funds from one bank account to another, to reduce the paperwork for intermediaries during IPOs.
“Once UPI is implemented, there will be no need for physical movement of application forms from broker to bank and the need for verification of investors’ signature will be eliminated. Investor will confirm to the bank to block the funds through his mobile phone,” the regulatory official said
