The Securities and Exchange Board of India (SEBI) has made a major change for retail investors investing in IPOs. SEBI has made a big change in the rules in this regard, which will be very beneficial for small investors.
The new rule comes into effect on May 1
Business Today published this news quoting Sebi’s circular. According to the circular, it has been decided that all retail investors bidding for IPOs should use UPI Payments to bid up to Rs 5 lakh. They can provide their UPI ID in their Bid-cum-Application. The rule is said to come into effect from May 1.
Read more | LIC IPO: Top 10 Things to Know Before Investing
Prepared by NBCI organization
The circular clarifies that NBCI has reviewed the preparation of its system for this new system. In addition, about 80% of intermediaries are committed to making changes under the new rules.
Meanwhile, SEBI’s decision comes four months after NBCI changed the rules for UPI fee transactions. To that end, NBCI has reduced the transaction limit from UPI to Rs 2 lakh. At the same time, it is noteworthy that SEBI has given permission to make payments through UPI to invest in IPOs in 2018 itself, which came into effect from July 1, 2019.
The Securities and Exchange Board of India, popularly known as SEBI, is the regulatory body that regulates the stock and financial markets in India. Headquartered in Mumbai, it was formed in 1988.
Read more | Big shock before LIC IPO release: You need to know
Follow us on social media to get instant news and share your thoughts.
முகZEETamilNews on Facebook, on Twitter @ZeeTamilNews And Like the page at Telegram https://t.me/ZeeTamilNews.
Download Zee Hindustan Processor now to get all kinds of news in Tamil like Education, Entertainment, Politics, Sports, Health, Lifestyle, Social, Employment !!
Android Link – https://bit.ly/3hDyh4G
Apple Link – https://apple.co/3loQYeR