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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Introduction of Unified Payments Interface (UPI) mechanism and Application through Online interface and Streamlining the process of Public issues of securities

23-Nov-2020 | SEBI/HO/DDHS/CIR/P/2020/233

Unified Payments Interface (UPI) mechanism and an additional mode for application through an online (app/web) interface in public issues of securities has been introduced. The following has been notified through circular- 1. The circular provides an option for investors to apply in public issues of debt securities through the app/web interface of Stock Exchange(s) with a facility to block funds through Unified Payments Interface(UPI) mechanism for application value up to Rs. 2 Lac. 2. The circular permits the UPI mechanism to block funds for application value up to Rs. 2 Lac submitted through intermediaries. 3. The process flow for applying through the online interface of stock exchanges or intermediaries and availing the option of blocking funds through the UPI mechanism is placed at Annex I to this Circular. 4. The additional text of data fields required to be included in the Application-and-bidding-form relating to UPI is placed at Annex II to this circular. The roles of the Issuer, Registrar, and Collecting Banks is given in Annex III of this Circular.

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