Initial public offering (IPO) FAQs

An initial public offering (IPO) is the process by which a private company can sell its shares to the public. It could be a new, young company, or an old company which decides to be listed on an exchange, hence goes public.

This new feature on Google Pay allows you to approve your IPO mandate easily and quickly on the app.

Any broker who’s registered with the Securities and Exchange Board of India (SEBI) can issue you a mandate for an IPO on Google Pay.

Your broker, based on the Securities and Exchange Board of India (SEBI) Guidelines decides the eligibility for an IPO. Only your payment processing is facilitated by Google Pay.

To purchase an IPO, your broker has to send you a mandate on your Google Pay UPI ID. On Google Pay, you’ll have an option to either approve or reject this mandate. After you accept the mandate, your bank will block the approved amount in your account. Then, the IPO is purchased with this fund on the release day. If rejected, you’ll have to request your broker to issue a new mandate.

Wait up to 24 hours to receive the mandate request. If you don’t receive the request within 24 hours, contact us.

When you enter an incorrect PIN, the mandate approval is “Failed.” To re-initiate the process, contact the broker.

To better understand the process of IPO re-initiation, contact the broker. You can't get your funds released or re-initiated using Google Pay.

After the mandate is initiated by your broker, it remains active for approval or rejection for a specific period. If it’s neither approved nor rejected within that period, it’ll expire. To send a new mandate and re-initiate the process, contact your broker.

You can use the Google Pay app to approve an IPO mandate, but banks and brokers have the right to update the mandate.

On the Google Pay homepage, you’ll find notifications of updates to your IPO mandates. Check if the notification confirms that the amount or date was updated. After you click the notification, it’ll take you to another page.

If the notification is about a change in the amount, the page on Google Pay gives you the option to approve or reject the update. After it’s approved, to confirm the change, enter the UPI PIN. The amount is automatically updated with your bank as per the latest mandate.

If the notification is about a change in the IPO end date, the page on Google Pay gives you the option to approve the offer. The new end date details are updated accordingly.

After the IPO mandate is rejected, we can’t re-initiate it. To get the rejected updates:

1. Open the Google Pay app .
2. Go to Settings.
3. Click One-Time Mandates History.

If you think you rejected the update by mistake, to re-initiate the process, contact the broker.

The funds will be unblocked from your account on the IPO execution date.

You won’t be allowed to close the account if there’s an approved mandate in the transaction history.

For IPO or refund-related queries, contact your broker.