SEBI Mandates UPI for Public Issue Applications of Debt Securities for an Amount Up to Rs 5 Lakh
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- Last Updated on 26 September, 2024
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Circular No. SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2024/128; Dated: 24.09.2024
SEBI has mandated the use of UPI by individual investors for making applications in public issue of securities via intermediaries. Accordingly, all investors applying in public issues of securities via intermediaries must use only UPI for the purpose of blocking funds, where application amount is up to Rs 5 lakh.
This is done in order to streamline and align the process of applying in the public issue of debt securities, non-convertible redeemable preference shares, municipal debt securities and securitized debt instruments with that of the public issue of equity shares and convertibles.
Further, individual investors shall continue to have the choice of availing other modes for making an application in the public issue. These provisions shall apply to public issues of debt securities, non-convertible redeemable preference shares, and securitized debt instruments opening on or after Nov 1, 2024.
Click Here To Read The Full Circular
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