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This comes after National Payments Corporation of India (NPCI), which manages the online payment system UPI, undertook system audits and found that a hike in the limit was required, Sebi said.
Are you willing to invest in an initial public offering (IPO)? Here is good news for you. Investors will be allowed to apply in IPOs through Unified Payments Interface (UPI) mode for up to Rs 5 lakh per application. This is according to an announcement made by the Securities and Exchange Board of India (Sebi).
SEBI has allowed retail investors to bid in an IPO using Unified Payment Interface (UPI) in 2019; bid limit has now been increased from Rs 2 lakh to Rs 5 lakh.
Individual investors can use UPI for up to Rs 5 lakh payment in public issues
SEBI said that individual investors applying in public issues of equity shares and convertibles can use UPI for application amount up to Rs 5 lakh.