Mandate & Fund-Blocking Terms

These Mandate & Fund-Blocking Terms explain how FastIPO initiates UPI mandates or ASBA-style fund blocks for IPO applications. They supplement the Terms of Use.

When you apply for an IPO, the application amount is typically blocked in your bank account (not transferred to FastIPO). On allotment, only the amount due for allotted shares is debited by your bank / partner rails under applicable IPO process rules. Unutilised blocked amounts are released according to bank / exchange / RTA timelines.

FastIPO does not take custody of your application money and does not auto-debit your bank account as a merchant charge for IPO bids. Debits related to allotment, if any, occur through banking and intermediary processes outside FastIPO’s payment destination.

By confirming an application and approving the UPI / mandate prompt in your banking app, you authorise:

• Creation of a mandate or fund block for the stated IPO amount and applicant details.
• Sharing of necessary application and mandate references with SEBI-registered partners and banking rails.
• Status checks needed to show pending, success, failure, or release states in FastIPO.

You must ensure sufficient balance / mandate limits, approve the request before cut-off, and use a UPI ID and bank account you are authorised to operate. Failed, expired, or rejected mandates may cause the application to fail.

Mandate creation, bank approval windows, and release schedules are controlled by banks, NPCI/UPI participants, brokers, and RTAs. FastIPO cannot force a bank to approve, extend, or instantly release a block.

Whether an application or mandate can be modified or cancelled depends on IPO rules and partner capabilities at that time. Some applications cannot be edited after submission.

Your bank or UPI provider may levy their own charges. FastIPO will disclose any FastIPO platform fee separately before you confirm, if applicable.

For debit / block disputes, contact your bank and the relevant intermediary first. FastIPO can help with application reference lookup via info@fastipo.in but cannot reverse bank ledger entries directly.

We may update these Mandate Terms as partner rails evolve. The effective date will be revised accordingly.