The Securities and Exchange Board of India (SEBI) has given a big gift to retail investors investing in IPOs. He has taken a new decision in this regard.
SEBI: The Securities and Exchange Board of India (SEBI) has made a big change for retail investors investing in IPO. SEBI has made a big change in the rules related to this, which can prove to be very beneficial for small investors.
The new rule will be applicable from May 1
Business Today has given this news quoting a circular of SEBI. According to this circular, ‘It has been decided that all retail investors bidding for IPO should use UPI Payment for bidding up to Rs 5 lakh. They can also provide their UPI ID in their application (Bid-cum-Application) form. This rule will be deemed to be applicable from May 1.
NPCI has prepared the system
It has been clarified in this circular that NPCI has reviewed the preparation of its system for this new system. Along with this, about 80% of the intermediate institutions have also confirmed to make changes according to the new rules.
4 months ago also changed
Let us inform that this decision of SEBI has come about 4 months after NPCI changed the rules of UPI payment transaction. In that decision, NPCI had reduced the limit per transaction from UPI to Rs 2 lakh. At the same time, SEBI had given permission to make payment through UPI for investment in IPO in 2018 itself, which has become effective from July 1, 2019.
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