Regarding IPO UPI mandate limit

[Ccgeek11]

Hello!
For the first time i applied for an IPO(premier energies limited) under sHNI category. Applied it through Dhan app using Phone pe upi id linked to my SBI bank account.
I had read earlier that IPO UPI mandate limit is upto 5 lac.
So i applied for 2.07L worth of shares. Now IPO got alloted under HNI category. But UPI autopay is now labelled as failed due to ‘bank limit exceeded’.
When i called SBI customer care, they are now saying that limit is 2 lakh.
What should i do now for autopay mandate to go through? Will shares be credited? If credited, will i be able to sell? What are the other alternative mode of payment?
Please guide.

 

[arvinder]

Congrats. your money will be doubled..!!!

 

[Ccgeek11]

Anyone encountered such thing? Please guide

 

[arvinder]

Your money will be deducted from your account. On the gpay/phonepe app it will be show failed but money will be deducted.

 

[Ccgeek11]

Your money will be deducted from your account. On the gpay/phonepe app it will be show failed but money will be deducted.

Ok. I was bit worried.

 

[Ccgeek11]

Your money will be deducted from your account. On the gpay/phonepe app it will be show failed but money will be deducted.

Thanks alot. Did you encounter this thing personally?

 

[Ccgeek11]

@TechnoFino Any experience sir?

 

[Ccgeek11]

Money deducted. Case closed

 

[iSaurabhSri]

@Ccgeek11 Hey, do yourself a favor and search about SBI ASBA. Register your DEMAT account on SBI internet banking and you can bid directly without involvement of UPI through internet banking or YONO lite app. Make sure to apply before 2PM on the closing day.
SBI ASBA demo

 

[Ccgeek11]

@Ccgeek11 Hey, do yourself a favor and search about SBI ASBA. Register your DEMAT account on SBI internet banking and you can bid directly without involvement of UPI through internet banking or YONO lite app. Make sure to apply before 2PM on the closing day.
SBI ASBA demo

Thanks. Sure will do. Didn't have knowledge earlier.