Aether Industries Limited IPO Message Board (Page 15)

What about UPI transactions.
ASBA mein to clearly lock ho hi jata hai

TIME till 1 sept 2022 for banks to update the software
nothing is mentioned about UPI but ASBA methord to be adopted for UPI also
hence time given to update the bank software

@Chem cho sir
Point no. 6 in the circular says "through all modes from which applications are processed'.
I think this should include UPI.
Correct me if I am making wrong interpretation.

@Ganesh Jaiswal
Excellent decision where ?

What I meant is I apply by using ASBA only, never have I ever came across a case where ASBA was applied without insufficient funds. The name itself says it Application secured by blocking amount, unless amount is blocked application is not processed.
So, what is SEBI referring to in here particular that I or maybe we are missing ?

What problem I see is with the UPI participants, they need to be brought in lines with ASBA. They get additional time to accept the mandate and even if they don’t have fund they can apply.


Anyone who knows what this circular means or is meant to mean, please enlighten me.

@Jetha Lal... By all modes they might have meant online / offline mode of application...
SEBI always leave somethings for our discussions and self interpretations. :)

@Avenue sir,
If you see this circular then "NPCI" which operates UPI is also tagged.
I think UPI is part of ASBA and this will be applicable on UPI as well.

@Jetha Lal Sir... Please don't call me Sir. Thanks

*All applications must be supported by blocked amount whether applied by upi or online mode/offline mode.
*Exchanges will accept applications only upon confirmation of blocked amount against applications.

This is a monumental decision by SEBI, it will iron out confusion of pending approval of mandate by HNI/RII.
The subscription data will be accurate after September 1 2022.

BUT small retailers/hni with limited fund capacity will suffer if more than 1 - 2 good IPOs arrive simultaneously.

Still retail, employee, shareholders quota subscription can be manipulated, providing cancellation option..

Bids on day 1, cancellation on day 3

This much needed decision is in light of recent two IPOs from Prudential and Ethos that were pushed with undersubscription instead of devolving in reality. This finally shuts the lid on all malpractices of overreporting day wise subscription with out blocking funds. This includes all mode of payments ASBA, Online, Off line and UPI. Effectively UPI can shorten the acceptance time with in same day before banking closing hours instead of next day of issue closure. It is just a matter of software updating. This definitely is discussed with all parties addressed before issuing this circular.

@Dr.Bhavy,
I think cancellation will be counted and the subscription figures will get reflected.

Yes, subscription will be counted realtime and it will cover ASBA including UPI.

Why SEBI has not clarified anything on the separate subscription figure of SHNI and BHNI.
It is a must.

Its only for ASBA as some banks were allowing for some QIBs, NII application without sufficient balance. Also as UPI has capping of value i.e 5 lakh hence not an issue.

Yes. The point no. 6 says, new rule applicable to all modes of payment. So, that should include UPI also.

@Avenue, I agree, SEBI circulars sHNI/bHNi, now UPI, are like exam question papers, you read, reread , then look at your neighbour for help.
Jetha Lalji thanks, you´re doing great work.