Affle (India) Limited IPO Message Board (Page 8)

A similar issue was reported at 5paisa/IIFL but no resolution provided.

Did anyone on this forum apply through UPI? If yes, pls let us know the name of the broker/bank.

Dear admin..
I have applied through upi .one with SBI linked and other linked with ICICI bank.mandate received for both .mandate of ICICI bank proceeds successfully but unable to give mandate in SBI linked upi.while proceedings the error msg occured
" could not be accepted"
I contacted to my broker "alankit assignment ltd"
and asked them to" reinitiate payment process"
Firstly they said that there is no option to reinitiate but after that they told that they have resend mandate.But I have not received any mandate further and finally I was unable to give mandate.So my application will be rejected"
Sebi should consider this type of technical error.
Finally retail investors are suffering a lot.

I addresed the problem regarding UPI in the past IPO of IndiaMart where I replied to our member ' Ordinary Visioner '
based on the past experience of Neogen IPO where most of the applications were rejected on technical issues.The reason whatever be , still not known. Also there is some problem in BHIM UPI App also.Again I suggest if possible apply through ASBA only.Here is the link and copy-paste thread message.

https://www.chittorgarh.com/ipo/ipo_feedback.asp?a=998&p=2

205.3. ???? IPO Janadesh ???? Jul 2, 2019 11:16 I Like It. 2 | Report Abuse
IPO Mentor IPO Mentor (600+ Posts, 1300+ Likes)

Hello dear ,

Online ASBA may continue further also as most of the banks have not prepared for UPI mechanism.The only condition is that you can apply only one application from one account and PAN of bank and demat must match.
Another drawback is most of the UPI applications are rejected on technical issues.The reason is still not known.UPI applications are only substitutes of physical application.
Our doubts will clear in next IPO.

While UPI IDs ending @hdfcbank are not acceptable, HDFC bank accounts linked with UPI IDs ending with @upi ie:- BHIM are allowed.

It's like the EVM (Electronic Voting Machine) conundrum. You do everything right from your side, but the algorithm built into the system doesn't accept your mandate unless it's acceptable to its designers.

I applied 2 application with UPI ID as mobile no.@upi, both upi linked to Corporation bank. My broker Sykes & Ray Equities (India) Ltd. submitted the forms to Axis Bank who are SCSB at 1 PM on 31st. My son holding the mobile received SMS from UPI at 4 PM but when I tried at 9 PM to 'accept' the mandate could not be accepted which was expired. I received SMS for my mobile at 10PM and accepted which was successful and it moved from 'pending' tab to 'active' tab of Bhim app.

At 9:30 AM on 01/08/19 SMS again received in my son's mobile, it was 'accepted' and successful.

The latest version of Bhim App must be updated.

@Anarchist setting the cat among the pigeons, buddy? Your profile name suits you. :)

@. Dr. Jan Itor

Haha no. But the problem is the suddenness of policy changes. IPO system as a whole couldn't adapt to change to UPI with a million glitches still pending to be resolved.

FPIs can't adjust to the sudden increase of tax on them. Companies cancelling buybacks because of sudden levy of 20% tax in a retrospective manner. Auto companies halting production and laying off workers due to hasty moratorium on fossil fuelled vehicles.

None could reconcile with the sudden ban on currency notes, the whole point behind which is still unknown.

True @Anarchist. But all these changes are important and urgent because past governments have failed to do anything at all. If Nehru ji had promoted Electric Vehicles we would have better environment today but he was an evil man because he smoked. ;)

@Anarchist, You missed one more, the hasty implementation of GST and tinkering the rates very often.

The Issuer Company decide with due consultation with their Merchant Banker(s).

Gmp down to 200 from 250.
It took one week from 150 to 250 and one day from 250 to 200.
Till Wednesday it should not be at less than 150 otherwise there will be dull listing.

This should list well because....

1. The forced interest rate cut (probably a big one) in the offing. Shaktikanta Das is unlikely to pull a Jerome Powell here. He would do and SAY whataever he has been asked to.

2. The adament ears unwilling to listen to anyone are finally being pulled and the vicious budget proposals that made even Jaitley look like a Hero are slated to get tweaked.

Trump is also in full force to bring negativity in the market..

With such bad market condition and more to come in coming week as dow, europe and asian market are trading 1-3% down..

Will be get any thing like listing gain, even in worst possible condition.. ??

If yes, then how much maximum gain we can expect per lot ??

Thank you..