When you apply for an IPO using UPI, submitting the application is only one part of the process. You also need to receive and approve the UPI mandate request so that the required IPO application amount can be blocked in your bank account.
Sometimes an investor submits an IPO application but does not receive the UPI mandate request. This can be stressful, particularly when the IPO closing deadline is approaching.
The good news is that not receiving the mandate immediately does not always mean that your IPO application has failed. The request can be delayed because of incorrect UPI details, bank or UPI app issues, heavy system traffic, or delays in processing the application.
Here is what you can check and do if your IPO UPI mandate has not arrived.
What Is an IPO UPI Mandate?
An IPO UPI mandate is a request that allows the required IPO application amount to be blocked in your bank account.
After an investor submits an IPO application with a UPI ID, the sponsor bank initiates a mandate request. The investor receives the request through the UPI application and may also receive an SMS directing them to the UPI app. The investor then needs to authorise the request using the UPI PIN.
The amount is blocked rather than immediately transferred to the IPO issuer. If shares are allotted, the required amount is subsequently debited. If there is no allotment, the blocked amount is released according to the applicable process.
Why Is the IPO UPI Mandate Not Received?
There can be several reasons for a missing or delayed mandate.
- The Application Has Not Been Processed Yet
After you submit the IPO application, the mandate request is not necessarily displayed instantly.
There can be some processing time before the request reaches your UPI application.
If you applied recently, wait for the request to arrive and check your UPI app again.
- Incorrect UPI ID Was Entered
One of the first things to check is the UPI ID entered while submitting the IPO application.
A spelling or handle error can prevent the mandate request from reaching the correct UPI account.
Check your IPO application details and compare the UPI ID with the one registered in your UPI app.
- UPI App Notifications Are Disabled
The mandate may be available inside your UPI application even if you did not receive a notification.
Open the UPI app manually and check sections such as:
- Mandates
- Pending requests
- UPI mandates
- Autopay
- IPO requests
- Pending transactions
The exact menu name can vary between UPI applications.
- Bank or UPI Technical Issue
A temporary technical problem with the bank, UPI application or IPO processing system can delay the mandate.
In such a situation, repeatedly submitting the IPO application may not solve the problem.
Instead, first check whether the original application has already been submitted successfully.
- Heavy Traffic Near the IPO Deadline
Many investors submit IPO applications close to the closing date and time. A high number of applications can put additional load on the systems involved in processing applications and mandates.
This is one reason investors should avoid waiting until the final minutes to complete the IPO application and mandate process.
What to Do If You Have Not Received the IPO Mandate
If your IPO closing deadline is approaching, follow these steps.
Step 1: Check Your IPO Application Status
First, confirm that the IPO application was actually submitted.
Check your broker or intermediary for:
- Application number
- IPO name
- Bid quantity
- Bid price
- UPI ID
- Application status
Do not submit another application immediately without checking the status of the first one.
Step 2: Verify the UPI ID
Check whether the UPI ID entered in the IPO application is correct.
The UPI ID should belong to the bank account that you are using for the IPO application.
SEBI’s investor guidance states that third-party UPI IDs or third-party bank accounts are not eligible for allocation under the applicable UPI IPO process.
Step 3: Open Your UPI App Manually
Do not rely only on push notifications or SMS.
Open the UPI application linked to the IPO application and look for a pending mandate or request.
Check all relevant sections of the application because the location of IPO mandates can differ between UPI apps.
Step 4: Check Your Bank Account
Make sure that the bank account linked to the UPI ID is active and has sufficient funds for the IPO application.
The IPO application amount needs to be available for blocking when the mandate is processed.
SEBI’s IPO documentation notes that insufficient funds in the ASBA account can result in problems with blocking the application amount.
Step 5: Check Whether Your UPI App and Bank Support IPO Applications
SEBI advises investors to use participating banks and UPI applications/handles that are enabled for IPO applications.
If your bank or UPI setup is not supported for the relevant IPO mechanism, the mandate may not be processed as expected.
Step 6: Contact Your Broker or Intermediary
If the application was submitted through a broker, check the application details with the broker’s support team.
Ask them to verify whether:
- The IPO bid was successfully uploaded
- The correct UPI ID was submitted
- The mandate request was generated
- The application is still active
Keep your application number ready when contacting support.
What If the IPO Closing Date Is Today?
This is the situation where timing becomes especially important.
If you have submitted the IPO application but have not received the mandate, do not simply wait until the last few minutes.
Check the following immediately:
- Confirm the application was submitted.
- Verify the UPI ID.
- Open the UPI app and check pending mandates.
- Check your bank account and available balance.
- Contact your broker/intermediary if the request is still missing.
- Complete the mandate authorisation if the request arrives.
The application and mandate have to be completed within the applicable timelines. SEBI’s IPO documentation recognises applications where the UPI mandate request is not approved within the prescribed timelines as a potential reason for rejection.
Can You Apply Again If the Mandate Is Not Received?
Do not automatically submit another IPO application just because the first mandate has not appeared.
First check whether the original application was successfully submitted.
Submitting multiple bids without understanding the status of the original application can create confusion and may not solve the mandate problem.
If you believe the original application was not successfully submitted, contact the broker or intermediary and confirm the status before taking further action.
What If the Mandate Arrives After You Check?
If the mandate request eventually appears, open it through the relevant UPI application and carefully check:
- IPO name
- Application amount
- Applicant details
- Mandate details
- Validity or expiry information
If everything is correct, authorise the mandate using your UPI PIN.
Once successfully authorised, the applicable amount is blocked in your bank account. NPCI describes this as the normal UPI IPO process.
What If the UPI Mandate Request Is Declined?
If you accidentally decline the mandate or the mandate expires before you approve it, the IPO application may not be considered valid.
The appropriate next step depends on the status of the IPO bid and the applicable deadline. Contact your broker/intermediary promptly if the issue occurs before the IPO closes.
Do not assume that simply entering the UPI PIN later will automatically reactivate an expired mandate.
What If the Money Is Not Blocked?
A successful IPO UPI process results in the application amount being blocked in the investor’s account after the mandate is authorised.
If you approved the mandate but the amount does not appear to be blocked, check the mandate status and bank account.
If the issue continues, contact your bank or UPI provider and provide the relevant transaction or mandate details.
Can You Receive the Mandate Without an SMS?
Yes, you should not rely only on SMS notifications.
The mandate request is associated with your UPI application, and NPCI’s IPO process describes the request as being delivered through the UPI application, with an SMS directing the investor to the app.
Therefore, manually checking the UPI app is important if an SMS has not arrived.
What Information Should You Keep Ready for Customer Support?
If you need to contact your broker, bank or UPI provider, keep the following information ready:
- IPO name
- Application number
- PAN
- UPI ID
- Bank name
- Application amount
- Date and time of application
- Screenshot of the application status
- Screenshot of any UPI error
- Mandate reference number, if available
This can help customer support identify where the application or mandate is stuck.
Common Mistakes to Avoid
When an IPO mandate does not arrive, avoid these common mistakes:
Do Not Share Your UPI PIN
Your UPI PIN should never be shared with a broker, bank employee, customer-care executive or anyone else.
Do Not Approve an Unknown Request
Before approving a mandate, verify the IPO name and amount displayed in the UPI app.
Do Not Use Someone Else’s UPI ID
Use your own eligible UPI ID and the bank account linked to your IPO application. SEBI’s investor guidance specifically warns that third-party UPI IDs or bank accounts can make an application ineligible for allocation.
Do Not Wait Until the Last Minute
If you have not received the mandate, start troubleshooting as soon as possible rather than waiting for the IPO closing time.
Frequently Asked Questions
How long does it take to receive an IPO UPI mandate?
The request can take some time after the IPO application is submitted. If it has not appeared, check your UPI app manually and verify your application and UPI details.
What should I do if my IPO mandate is not received before the deadline?
Check the application status, verify your UPI ID, check the UPI app manually and contact your broker or intermediary immediately if the request is still missing. The mandate must be authorised within the applicable timeline for the application to be processed successfully.
Why is my IPO UPI mandate not showing in the app?
Possible reasons include application-processing delays, an incorrect UPI ID, technical problems, unsupported UPI/bank arrangements or other processing issues.
Can I approve an IPO mandate after the IPO closes?
It depends on the applicable timeline and status of the mandate. If the request was not approved within the prescribed timeline, the application can be liable for rejection.
Should I cancel my IPO application if the mandate is not received?
Not necessarily. First check whether the application was successfully submitted and whether the mandate is still pending. Contact the intermediary if you are unsure about the application status.
Where can I complain if my IPO UPI mandate has a problem?
Start with the relevant broker/intermediary, bank or UPI app provider depending on where the problem occurred. Keep your application and mandate details ready so the issue can be investigated.
Conclusion
Not receiving an IPO UPI mandate does not automatically mean that your IPO application has failed. The request may be delayed or may already be waiting inside your UPI application.
Start by checking your IPO application status and verifying the UPI ID you provided. Then open your UPI app manually and look for a pending IPO mandate. If the IPO closing deadline is approaching and the request is still missing, contact your broker or intermediary without waiting until the last minute.
Most importantly, never share your UPI PIN and do not approve a mandate unless the IPO name and amount are correct.
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