Bharat Interface for Money, in short, BHIM, is an app that helps its users to get quick, easy, and simple access to making payments and transactions with the help of UPI. This feature gives easy access to all users and offers bank-to-bank transaction options in the IPO Stock Market. BHIM UPI option is a great and handy option in different Share Trading apps.
How Is IPO Possible with BHIM?
When it comes to IPO investment, the BHIM application comes as a handy option.
IPO (Initial Public Offering) is an option for investors to take part in an organization’s stock market. It is the phase when a private company decides to go public and get its chance in the stock exchanges.
Investing in an IPO with the help of UPI is possible and easy. BHIM UPI is the payment option associated with the stock exchange to participate in the IPO.
It happens by linking with the bank account.
Steps to Apply for BHIM IPO Application
An investor needs to follow five simple steps to take in the IPO using the BHIM app:
- Log in to the website and find your suitable IPO bid option
- Place your order (Choose either fixed-price IPO or book-building IPO)
- Enter your UPI ID and click ‘verify.’
- Proceed to verification (the stock exchange will do a few analyses)
- Allotment of stock
The process for applying for an IPO (Initial Public Offering) through the BHIM (Bharat Interface for Money) app is as follows:
- Make sure you have the latest version of the BHIM app installed on your smartphone.
- Open the app and log in with your mobile number and password.
- Click on the “Investments” tab at the bottom of the screen.
- Select the “IPO” option.
- Choose the IPO you want to apply for from the list of available IPOs.
- Enter the number of shares you want to apply for and the price you are willing to pay for each share.
- Review your order and confirm the details.
- Make the payment for your IPO application through the BHIM app using your linked bank account or by scanning the QR code at a participating bank branch.
- You will receive a confirmation of your IPO application through the BHIM app and via SMS.
Advantages of BHIM IPO Option
An investor can earn three major benefits from using the BHIM app in the IPO investment option:
- Instant fund transfer with zero lag experience
- Creating an instant mandate with real-time submission of the application.
- Better customer support relevant to the transaction issues
Is UPI Safe for IPO Payment Option?
As per the SEBI (Securities & Exchange Board of India), it is completely safe to do investments in IPO stock exchanges by using the BHIM UPI option.
UPI route is open for both depository participants (DPs) and Registrar and transfer agents (RTAs).
Is 3rd Party UPI IPO Application Allowed?
A 3rd party UPI IPO application was allowed previously under the guidelines of SEBI.
However, from May 2022, SEBI made the changes.
Sum Up! Nobody wants to make their initial investment complicated. That’s why the best option to choose for online trading is UPI. With the help of this payment method, an investor can earn many benefits in an Online Trading Platform.