How to Locate IPO Mandate on GPay, PhonePe, Paytm, and BHIM Apps

Applying for an IPO isn’t just about analysing a company’s fundamentals or checking subscription data—it also involves completing a crucial final step: authorising the UPI mandate. If this step is missed or delayed, your IPO application won’t be processed, no matter how good your stock pick is.

Let’s break down how to check and approve IPO mandates on commonly used UPI apps like Google Pay, PhonePe, Paytm, and BHIM. But first, a quick refresher for those unfamiliar with how UPI ties into IPO investments.

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UPI and IPOs: What’s the Connection?

The Unified Payments Interface (UPI), a service developed by NPCI, is widely known for enabling instant digital payments. However, it's also become the standard route for retail investors applying to IPOs via registered brokers or intermediaries. The Securities and Exchange Board of India (SEBI) has made UPI-based payment mandatory for IPO applications made through brokers, DPs, and RTAs.

After placing an IPO order with your broker, a mandate approval request is sent to your UPI-linked app. This request must be authorised to block funds for the IPO bid. If you fail to respond or reject the mandate, your application is considered invalid.

How to Check IPO Mandate on Different UPI Apps

Checking UPI Mandate on Google Pay

GPay often notifies users automatically when an IPO mandate is generated. However, to manually locate and approve it:

• Tap your profile icon on the top right of the app home screen.
• Scroll to find the ‘Autopay’ section.
• Under ‘Pending Autopay’, locate the relevant IPO request.
• Tap it, verify the amount and details, and enter your UPI PIN to confirm.
• Once approved, the mandate will shift to the ‘Live’ tab, where you can track it.

Checking UPI Mandate on PhonePe

PhonePe displays an in-app pop-up for new IPO mandates. To proceed:

• Open the PhonePe app as soon as you get the alert.
• A prompt will appear—tap ‘View Details’.
• Review the IPO details carefully.
• Hit ‘Accept’, and enter your UPI PIN to authorise the payment block.
• The IPO amount will be reserved until share allotment is complete.

Checking UPI Mandate on Paytm

For Paytm users, the IPO mandate approval must be completed within the app if your UPI ID is linked here. Follow these steps:

• Look out for a push notification regarding the IPO mandate request.
• Tap it to open the mandate screen.
• Verify the transaction amount and merchant details.
• Click ‘Accept’ and input your UPI PIN to finish the authorisation.

Checking UPI Mandate on BHIM UPI

Those using the BHIM app for IPO payments can check for mandates as follows:

• Launch the BHIM app and head to the ‘Mandates’ section (usually on the home page).
• You’ll find all pending and active mandates listed there.
• Tap on the relevant IPO entry.
• Hit ‘Proceed’, review details, and validate the request with your PIN.

What Exactly Is a UPI Mandate in IPOs?

A UPI mandate, sometimes called an autopay or e-mandate, is essentially an instruction you approve to allow money to be temporarily blocked in your account. For IPOs, it’s a one-time authorisation that ensures funds are set aside for your application.
If shares are allotted to you, the blocked amount gets debited. If not, the hold is lifted, and the amount becomes available again—no manual cancellation required.

Think of it like reserving a table at a restaurant—you don’t get charged unless the dinner is done.

Why Your UPI ID Matters in IPO Applications

When applying for an IPO via your broker or intermediary, your UPI ID becomes your payment identity. This ID must be linked to a bank account and a UPI-enabled app. Your broker sends the IPO mandate request to this UPI ID, and unless you accept it within the stipulated time, your application won’t be validated.

Advantages of Using UPI for IPO Bidding

• No Transaction Charges: UPI payments are completely free—no hidden fees or commissions.
• Quick Refunds: If the IPO isn’t allotted, the blocked funds are released swiftly.
• Real-time Alerts: UPI apps notify you immediately when a mandate arrives.
• Simple Process: You don’t need to transfer funds manually—just approve and wait.

What Happens If You Miss or Decline the Mandate?

Missing or ignoring the IPO mandate request effectively cancels your application. Even if all other details are correct, SEBI guidelines state that without mandate confirmation, the IPO bid is void.

If you accidentally decline it, you’ll need to reapply from scratch—submitting a fresh bid and waiting for a new mandate request.

Final Thoughts

Confirming the UPI mandate is the final, but arguably the most crucial, step in your IPO journey. Whether you’re investing via Google Pay, PhonePe, Paytm, or BHIM, make sure to check your app for incoming requests immediately after applying through your broker.
This one step determines whether your bid is even considered for allotment. A moment of delay could mean missing out entirely—so don’t overlook it.