Common Reasons for UPI Rejections in IPO Applications - Oct’24
Understand the common causes of UPI rejections in IPO applications and learn how to avoid them. Ensure a seamless IPO process with Kotak Securities.
When applying for an IPO through UPI, it’s essential to ensure all details are accurate and your bank account is ready for the transaction. Even minor errors can lead to rejections, which could cost you a valuable investment opportunity. Here are the most common reasons why UPI rejections happen and how you can avoid them.
Common Reasons for UPI Rejections
- Invalid UPI ID: Ensure the UPI ID is correct and belongs to you.
- Insufficient Funds: Your bank account must have sufficient balance to process the transaction.
- UPI Request Declined: Double-check and approve the UPI mandate in your app.
- Technical Issues: Problems with your UPI app, bank, or the IPO sponsor bank could cause rejections.
- Incorrect/Missing Information: Check your application for any mistakes or missing data.
- PAN Mismatch: The name on your PAN card must match your bank account.
- Multiple Applications: Only one application is allowed per PAN. Submitting multiple applications can lead to rejection.
Tips to Avoid Rejection
- Ensure your bank account, Demat account, and UPI ID are linked to the same PAN.
- Submit one application per PAN.
- Double-check the accuracy of your UPI ID.
- Approve the UPI mandate in your UPI app.
Remember, the deadline to accept UPI mandates for an IPO is 5 PM on the closing day.
If you have further questions or need assistance, feel free to reach out to our customer service team for help.
Happy investing with Kotak Securities!