Yes, but only one valid UPI id per ipo application is accepted. Each application should be submitted with a unique UPI ID linked to you respective bank account.

1. How to approve your IPO mandate on UPI apps?

Applied for an IPO and now your broker is asking you to approve a mandate?

In case you didn’t know, IPO applications can now be made using UPI payments. Let’s first understand exactly what a UPI mandate is, why it matters, and then how to approve it in just a few taps, so your IPO application goes through without a hitch.

2. What is an IPO mandate?

IPO applications are now made through the ASBA (Application Supported by Blocked Amount) process, under which when you apply for the IPO your money isn't immediately deducted from your bank account. Instead, a specific amount is blocked until the allotment is finalised. You make this payment using UPI.

A UPI mandate is a digital request sent to your UPI app to authorise this block. Think of it as giving permission to your bank to hold the application money - not spend it, just set it aside. If you don't get allotted shares, the block is released automatically. If you do get shares, only then is the amount debited.

In simple terms: It's like placing a hold on your account, similar to how a hotel blocks your card but doesn't charge until checkout.

Before You Start — Quick Checklist

Make sure you have all of these in place:

Step by step guide on how to approve your IPO mandate

Once you've submitted your IPO application through your ArihantPlus app, you'll receive a UPI mandate request. Here's how to approve it:

Step 1: Open Your UPI App

Open whichever UPI app you used while applying like Paytm, BHIM, PhonePe, Google Pay, or any other. The mandate request will appear there.

Step 2: Find the Pending Mandate Request

Look for a notification or navigate to:

•        Paytm: UPI → Mandate Requests

•        PhonePe: Profile → UPI Mandate

•        Google Pay: Profile → Manage UPI mandates

•        BHIM: Mandate → Pending

You should see a pending request from your bank or broker for the IPO.

 Step 3: Review the Details

Before approving, verify the following:

•        Amount matches what you applied for

•        Merchant / beneficiary name is your broker or registrar (like Link Intime, KFin Technologies)

•        Expiry date is after the IPO allotment date

 Step 4: Enter Your UPI PIN

Tap Approve and enter your 4- or 6-digit UPI PIN when prompted. Do not share this PIN with anyone.

Step 5: Confirmation

You'll receive a confirmation message on the app and usually an SMS or email from your broker. That's it, your application is complete!

Time limit: You typically have only 24–48 hours to approve the mandate after submitting your IPO application. Don't delay — missing this window means your application gets rejected.

 Important things to know

•    Approve your IPO mandate immediately. If you miss the approval window, your IPO application will be rejected. You cannot re-apply for the same IPO after this. Make sure to approve within the deadline shown in the request.

•    Your money stays in your account — it is only blocked, not transferred, until allotment.

•    You can only apply for one IPO from one UPI ID per PAN. Multiple applications from the same PAN are rejected.

•    If your UPI PIN is wrong too many times, your UPI will get temporarily locked. Reset it through your bank's app.

•    The mandate block does not affect your bank account's interest, your money keeps earning interest while blocked.

•    If you don’t get the IPO allotment, your money is released. In case, the IPO is oversubscribed and you don't get an allotment, the block is typically released within 6 business days.

•    Apply using a bank account that has sufficient balance. If there is insufficient balance, your IPO application will be rejected.

One last thing

Approving your IPO mandate takes less than a minute. The only thing to watch out for is the deadline — so as soon as you apply for an IPO, check your UPI app and approve the mandate right away. Good luck with your application!

2. I didn't receive any mandate request. What should I do?

First, check that you entered the correct UPI ID while applying. Then check your UPI app under pending mandates. If it's still not visible, there may have been an error in submission, let our customer service team help you.

3. Can I approve the mandate from a different UPI app?

No. You must approve it from the same UPI app linked to the UPI ID you used while applying for the IPO.

4. Is it safe to approve a UPI mandate for an IPO?

Yes, as long as you applied through a SEBI-registered broker and the beneficiary name matches a known registrar or stockbroker. Never approve a mandate you did not initiate yourself.

5. Can I cancel the mandate after approving?

You can withdraw your IPO application before the issue closes. Once your application is cancelled, the mandate block made for the IPO through UPI will be released.