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SEBI has postponed certain operational aspects of UPI payment supported IPO subscription or application supported by blocked amount (ASBA).
IPO subscription through UPI payment has been one of the novel reforms by SEBI to truly make the stock market payment system digital. However, due to the pandemic, SEBI has allowed banks to implement the system of SMS alert with regard to total number of shares applied/allotted/non-allotted from January 2022.
Also, SEBI has allowed the banks to go live with their automated web portal from October 1. The requisite information on this automated portal should be updated periodically within two hours. Till the automated web portal is live and operational, the banks will have to send the details to the mail address in three hours, SEBI said.
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