| Bid Submission: Once you place a bid, it’s sent to the exchange. |
| Bank Interaction: The exchange forwards the bid to the bank through the National Payments Corporation of India (NPCI). Here, the UPI app is used to request the mandate. |
| UPI Mandate Approval: Upon approval of the UPI mandate, your IPO application is considered complete. |
| Application Assessment: The company’s registrar evaluates your application during the share allotment process. |
| Share Allotment: If shares are assigned, they’ll be credited to your demat account one or two days before the listing date. |
| Non-Allotment Refund: In case shares are not allotted, the invested amount is refunded back to your bank account. |
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