SEBI simplifies payment for IPOs via UPI

The Securities and exchanges Board of India has simplified the payment of processing fees through the UPI system for shares applied for and allotted during an initial public offering (IPO).

The regulator has introduced a new system for recording the data of all ASBA (Application Supported by Block Amount) applications unblocked by SCSBs (Self Certified Syndicate Banks) and their corresponding date of actual unblock.

The SEBI circular said that the board had incorporated this new format after reviewing SCSBs and the feedback received on it from market intermediaries.