News, Articles, Findoc
| October 01
Will SEBI’s Extension Of UPI Mechanism Pose IPO Troubles For Startups?
The time for implementation of Phase II of Unified Payments Interface (UPI) as an alternative payment option for retail investors to buy shares in IPOs was further extended to the end of the financial year 2020. This new mechanism comes with no additional charges, is secure, and faster than other forms of transfers.
According to Sumit Kochar, Senior Wealth and Transactions advisor for Findoc Financial Services, implementation of UPI for IPOs as a payment mechanism with ASBA for public issues through intermediaries will streamline the process. Furthermore, it will increase efficiency and oust the call for manual intervention at various stages. Read to know more.
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