Comment on Apply for IPOs using UPI

Narendra Kumar SS commented on 03 Oct 2019, 11:24 AM

I am trying to apply for IRCTC IPO thru console.zerodha.com.
The bank linked to my account is Citibank India.
I clicked on the “Place Bid” link on the IPO page.
I gave my UPI id for Citibank and the bid got accepted. Now, I am seeing the link “Modify Bid” in place of “Apply Bid”.
But, I don’t see the amount blocked in my Citibank account. Also, I didn’t get any mandate for this bid.

When I clicked on the Funds->Bank Mandates link, it showed “Mandates (eNASH)” page, where there is a link called “Create New Mandate”.
I clicked on this “Create New Mandate”. It gave an error that: “Sorry! Banks mapped to your trading account don’t yet support eMandates.”

So, does it mean I cannot apply for IPO thru Zerodha using Citibank?
Then why did it accept the bid and showing “Update Bid” link?

Please let me know how to proceed on this?

Regards,
Narendra

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