{"id":265087,"date":"2022-04-06T11:30:47","date_gmt":"2022-04-06T06:00:47","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=265087"},"modified":"2022-04-06T11:22:38","modified_gmt":"2022-04-06T05:52:38","slug":"sebi-revises-upi-limits-in-public-issue-of-equity-shares-and-convertibles","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/04\/06\/sebi-revises-upi-limits-in-public-issue-of-equity-shares-and-convertibles\/","title":{"rendered":"SEBI revises UPI limits in public issue of equity shares and convertibles"},"content":{"rendered":"<div>On April 05, 2022, SEBI has issued circular on revision of UPI limits in public issue of equity shares and convertibles. This circular shall come into force for Public Issues opening on or after May 01, 2022.<\/div>\n<div><\/div>\n<div style=\"text-align: justify;\">On November 01, 2018, SEBI introduced the use of Unified Payment Interface as an additional payment mechanism with Application Supported by Blocked Amount (ASBA) for Retail Individual Investors.<\/div>\n<div><\/div>\n<div style=\"text-align: justify;\">NPCI has reviewed the systemic readiness required at various intermediaries to facilitate the processing of applications with increased UPI limit and confirmed that as on March 30, 2022, more than 80% of SCSBs\/Sponsor Banks\/UPI Apps<\/div>\n<div style=\"text-align: justify;\">have conducted the system changes and have complied with the NPCI provisions. Accordingly, it has been decided that all Individual Investors applying in Public Issues where the application amount is upto 5 Lakhs shall use UPI and shall also provide their UPI ID in the bid &#8211; cum- application form submitted with any of the entities mentioned herein below:<\/div>\n<div>\n<div><\/div>\n<ul>\n<li style=\"text-align: justify;\">a syndicate member<\/li>\n<li style=\"text-align: justify;\">a stock broker registered with a recognised stock exchange (and whose name is mentioned on the website of the stock exchange as eligible for this activity) (\u2018broker\u2019)<\/li>\n<li>a depository participant (\u2018DP\u2019) (whose name is mentioned on the website of the stock exchange as eligible for this activity).<\/li>\n<li>a registrar to an issue and share transfer agent (\u2018RTA\u2019) (whose name is mentioned on the website of the stock exchange as eligible for this activity).<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On April 05, 2022, SEBI has issued circular on revision of UPI limits in public issue of equity shares and convertibles. This <\/p>\n","protected":false},"author":8808,"featured_media":264666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[],"class_list":["post-265087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SEBI revises UPI limits in public issue of equity shares and convertibles | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2022\/04\/06\/sebi-revises-upi-limits-in-public-issue-of-equity-shares-and-convertibles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEBI revises UPI limits in public issue of equity shares and convertibles\" \/>\n<meta property=\"og:description\" content=\"On April 05, 2022, SEBI has issued circular on revision of UPI limits in public issue of equity shares and convertibles. 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