Over 4.5-million IPO mandates created via UPI in May, shows data

Mandate creation for initial public offerings (IPOs) through the Unified Payments Interface (UPI) hit a 2022 high of 4.5 million in May, data released by the National Payments Corporations of India (NPCI) showed.

In May, 4.5 million IPO mandates were created through UPI and a record 2.4 million mandates got executed, data shows.

Last month, eight companies, including Life Insurance Corporation of India (LIC), mobilised a cumulative Rs 29,500 crore through IPOs. This was the second-highest mop-up in a month after November 2021, when nine firms, including Paytm, had mobilised Rs 35,664 crore, according to Prime Database, a primary market tracking firm.

Mandates