(Responded) HNI IPO can not be placed again on payment failure

Need Help ℹ️ Query Resolved!✅
1

I placed 2 lot order (sHNI) for “Cash U Drive” IPO via UPI (using family member account)

When trying to approve the transaction it failed due to insufficient funds in bank account.

My IPOs Bids page shows status as “Payment Rejected”.

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Now I transferred funds to that bank account so account now has sufficient funds.

But when I try to apply again, it does not allow me to place fresh IPO order.

And shows me that I have already applied for it.

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So this is a bug, when Payment is rejected the order no more remains valid. So fresh application should be allowed.

Please fix it.

Thank you.

3

Hi @amish

As per the regulations, for HNI investors, IPO applications cannot be modified, cancelled or reapplied once submitted, even if the payment is unsuccessful.

Since your application was already placed, the system does not allow a fresh submission for the same IPO.

If you have any other questions, feel free to reach out.

4

You can not cancel HNI applications.

5

It is strange regulation. (if really true) OR misinterpretation of regulations.

One mistake (like wrong PIN) - also immediately rejects the payment. Without asking for PIN again.