Get started with IPO Mandates
IPO Mandates let you use Google Pay as a form of payment in buying IPOs. You can apply for IPOs in advance, which places a hold on the money in your bank account.
Requirements for IPO Mandates
In order to apply for an IPO mandate, you must have the following:
- Google account
- Google Pay application
- Virtual Payment Address (VPA)
Note: IPO Mandates are currently only available for Google Pay users in India.
How it works
- You can apply for initial public offering (IPO) with your broker by providing your Google Pay Virtual Payment Address (VPA).
- The broker enters your information in the Securities and Exchange Board of India (SEBI) interface.
- You’ll get a notification on your Google Pay app, where you approve or reject the mandate approval request.
- If you’ve been allocated shares in the IPO, a notification will appear once the funds have been withdrawn from your account.
- When the mandate is executed by the broker, your shares will be allocated.