In case you didn’t know, UPI is an instant payment system developed by the National Payments Corporation of India (NPCI). With UPI, you can transfer money between any two parties' bank accounts instantly. To use it, you have to create a UPI ID. To read more on UPI click here.

Here’s how you apply for IPO from your HDFC Bank Account using UPI

You can apply for IPO using UPI ID as a payment option on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). All you need to do is tell your broker to use your UPI ID when he submits the IPO application.

Here’s how the process looks like:

• Register for UPI on Google Pay app & link your HDFC Bank Account with “okhdfcbank” handle

• Enter your UPI ID on the IPO application form and submit it

• You will get a fund block request on Google Pay app

• Approve the request in the Google Pay App to block the amount for the IPO

• The funds will be blocked in your bank account until allotment, when it is debited. Click here to know the limit for IPO application.

• On allotment of the shares, the money will be automatically debited from this blocked amount.

• If the shares have not been allotted to you, the blocked funds will be unblocked on the end date or expiry date of the mandate.
  

As discussed, you don’t have to break out in a sweat while finding out how to apply for IPO with UPI ID. The process is so much more straightforward and convenient – all you need is a smartphone and the UPI app. You can do it at any time. The list of banks providing UPI service is available on the SEBI website.

So, download Google Pay app and apply for IPO using UPI.