How to fix a UPI mandate timeout for an IPO application on Zerodha
When applying for an IPO through Zerodha via Kite or Console, the UPI ASBA flow requires you to approve a UPI mandate (also called a UPI block mandate or UPI collect request) in your UPI application within a limited window. If the mandate is not approved before the window closes or before the IPO closes, the bid is treated as invalid and you may miss the allotment process.
This guide covers how to check mandate status, how to approve a pending mandate, and what to do if the window has already expired.
Conflict-of-interest disclosure. This guide is published by WebNotes Editorial Team for informational purposes only. WebNotes has no commercial relationship with Zerodha, NPCI, or any UPI service provider.
Prerequisites
- A Zerodha account with an active demat account linked.
- A UPI-enabled bank account registered with Zerodha.
- An active UPI handle (VPA) on Google Pay, PhonePe, Paytm, BHIM, or a bank-own UPI app.
- The IPO bidding window must still be open. If the IPO has already closed, you cannot modify a mandate or re-apply.
Step 1: Check the mandate status in Console
Log in to Console at console.zerodha.com. Navigate to Portfolio > IPO. The IPO Applications screen lists all your current and past IPO bids.
Find the IPO in question. The Mandate Status column shows one of the following:
| Status | Meaning |
|---|---|
| Pending | Mandate has been sent to your UPI app but not yet approved |
| Approved | Mandate approved; funds blocked; bid is valid |
| Expired | Mandate approval window has passed without approval; bid is invalid |
| Failed | UPI app declined the mandate or a technical error occurred |
If the status is Pending, proceed to Step 2 immediately. If the status is Expired or Failed and the IPO is still open, proceed to Step 3.
Step 2: Approve the pending mandate in your UPI app
Open the UPI application you used when placing the bid. Navigate to the pending-requests or mandates section:
| UPI app | Where to find pending requests |
|---|---|
| Google Pay | Home screen > Pay > Requests tab |
| PhonePe | Bell icon (Notifications) > Pending UPI Requests |
| Paytm | UPI & Payments > Pending Requests |
| BHIM | Collect Requests on the home screen |
| Bank-own apps | UPI section > Collect Requests or Pending |
Look for a collect request from the Self-Certified Sponsor Bank (SCSB) acting on behalf of Zerodha or the registrar (e.g., Link Intime, KFin Technologies). The request shows:
- Payee: the SCSB name (e.g., HDFC Bank, Axis Bank, ICICI Bank)
- Amount: the bid value (bid price × lot size × number of lots)
- Purpose: IPO application mandate
Verify that the amount matches your intended bid. Tap Accept or Approve, enter your UPI PIN on the NPCI-secured screen, and wait for the success confirmation.
Return to Console and refresh the IPO applications page. The Mandate Status should change to Approved within a few minutes.
Step 3: If the mandate has expired, cancel and reapply
If the mandate status shows Expired or Failed and the IPO bidding window is still open, your existing bid is invalid. You must withdraw it and submit a fresh bid.
Withdraw the invalid bid.
In Console, navigate to Portfolio > IPO. Click the IPO row to expand it, then click Modify / Withdraw. Select Withdraw bid. Confirm the withdrawal. The bid is cancelled and the blocked mandate (if any) is released.
Alternatively, log in to your bank’s ASBA portal or internet banking if the bid was placed via bank ASBA (not UPI ASBA); bank ASBA withdrawals are processed through the bank.
Submit a fresh bid.
After the withdrawal is confirmed (this typically takes a few minutes), place a new IPO bid from scratch:
- On Kite web: click the IPO banner or go to Apps > IPO in the left sidebar.
- On the Kite mobile app: tap the IPO section in the Discover / Invest tab.
- Enter the bid details: number of lots, price (cut-off or a specific price within the band).
- Enter your UPI ID carefully. A typographical error in the VPA means the mandate is sent to a non-existent or wrong handle and you will not receive it.
- Submit the bid.
Approve the new mandate immediately.
As soon as the bid is submitted, open your UPI app and approve the new mandate. Do not wait, the previous timeout occurred because of delayed approval.
Step 4: Confirm the bid is valid before IPO close
After approving the new mandate, return to Console > Portfolio > IPO. Confirm:
- Mandate Status: Approved
- Bid Status: Submitted
- Bid details (lots, price) are correct
The IPO closes at 5:00 PM IST on the final bidding day. Any bid without an Approved mandate at closing is disregarded in the allotment process.
What can go wrong
UPI app does not show the pending mandate. The mandate request may be delayed by up to 30 minutes due to NPCI processing. If the mandate does not appear after 30 minutes, force-close and reopen the UPI app, or check on a different UPI app linked to the same bank account. If it still does not appear after 60 minutes, withdraw the bid and reapply (Step 3).
Mandate declined by UPI app. This happens when the bank account linked to the UPI handle has insufficient balance to support the block. Ensure your bank account has a balance equal to or greater than the bid amount (bid price × lot size × number of lots) before placing the bid. The funds are not debited; they are blocked (ASBA), but your balance must be at least equal to the blocked amount.
VPA entered incorrectly during bid placement. If the VPA has a typo, the mandate is sent to the wrong or a non-existent handle. You will never receive the approval request. Withdraw the bid immediately (as in Step 3) and reapply with the correct VPA.
Multiple bids placed from the same PAN. SEBI regulations allow only one bid per PAN per IPO. If you placed multiple bids (e.g., via different brokers or bank ASBA + UPI ASBA), all bids from that PAN are liable to be rejected during the registrar’s deduplication check, regardless of mandate approval status. Ensure you have only one active bid per PAN.
IPO closed while mandate was pending. If the mandate expired after the IPO bidding window closed, the bid is invalid and no action can be taken. Allotment will not include your application. There is no escalation path for a missed IPO due to mandate timeout after the IPO has closed.
Escalation path
If you believe your mandate was approved correctly but the status does not update in Console within 2 hours:
- Raise a ticket at support.zerodha.com with your order ID, the UPI transaction reference (from your UPI app’s transaction history), and the mandate amount.
- If the issue involves funds being blocked in your bank account without a corresponding approved mandate, contact your bank’s UPI helpline with the UTR number.
- For grievances not resolved within 30 days, file on SEBI SCORES at scores.sebi.gov.in. IPO-related grievances fall under the jurisdiction of SEBI’s Primary Market Department.
Related guides
- How to approve a UPI mandate for an IPO
- How to apply for an IPO through Zerodha
- How to modify or withdraw an IPO bid on Zerodha
- How to check IPO allotment status on Zerodha
- UPI ASBA, how it works
- UPI mandate, how it works
References
- SEBI, “Circular on Use of UPI mechanism for Applications Supported by Blocked Amount (ASBA) in public issues,” SEBI/HO/CFD/DIL2/CIR/P/2018/138, November 2018.
- NPCI, “Unified Payments Interface, operational guidelines for IPO mandate blocks,” npci.org.in.
- Zerodha Support, “IPO application via UPI, mandate approval guide,” support.zerodha.com.
- Zerodha Z-Connect Blog, “How to apply for an IPO using UPI on Kite,” zerodha.com/z-connect.
- SEBI, “SCORES grievance redressal framework,” sebi.gov.in.