How to subscribe LIC IPO Using Canara Bank UPI ?

Subscribe LIC IPO via Canara Bank UPI or through linking with payment apps like BHIM, Google Pay, Paytm, Phonepe, Amazon pay, cred.  Canara Bank is providing easy subscription through BHIM. Follow the below steps to subscribe for LIC IPO.

Steps to subscribe LIC IPO Via Canara Bank UPI

Step 1: Login to your Trading platform and select option IPO. Enter your canara bank UPI ID on the IPO application form and submit it. For e.g. raj@canarabank or UPI ID of any other app where canara bank credit card is linked like on BHIM, Google Pay or Phone Pe or Paytm i.e. raj@paytm, raj@upi etc. 

Step 2: Open your BHIM or any other apps like Paytm, PhonePe, Google App. You will get a fund block request on your app

Step 3: Approve the request to block the amount for the IPO

Step 3: The funds will be blocked in your registered bank account with Canara Bank until allotment, when it is debited. The limit for IPO application is Rs 2 lakh per transaction on UPI.

Step 4: On allotment of the shares, the money will be automatically debited from this blocked amount.

NOTED – The shares that have not been allotted to you, the blocked funds will be unblocked on the end date or expiry date of the mandate.

This is to remember that the Bank account registered with Google Pay or IPO must be same with the trading platform. For e.g. If you are having Trading account with CANMONEY or ZERODHA, and registered bank account is with Canara Bank, the same account must be registered with Google Pay or UPI apps. The request will be failed incase of different account or non registered account.

Also Know – How To Apply For IPO Through Canara Bank Internet Banking ?

Common Do’s and Don’ts for the IPO using UPI:

Do not make the Application Form using third party bank account or using third party linked bank account UPI ID;

Do not submit more than one Bid cum Application Form for each UPI ID in case of RIBs Bidding using the UPI Mechanism

Do not submit incorrect details of the DP ID, Client ID, PAN and UPI ID details if you are a RIB, Eligible Employee or an Eligible Policyholder, Bidding through the UPI Mechanism.

Note that investors using the UPI Mechanism should mention valid UPI ID of only the Bidder and of the first Bidder (in case of joint account.)