UPI IPO mandate creation dips in August despite best mop-up in 4 years

5.9 mn mandates were created compared to 7.7 mn in July

The mandate creation through Unified Payments Interface (UPI) for initial public offerings (IPO) dipped in August although it was the best-ever month in terms of mobilisation in nearly four years. Last month, saw eight IPOs cumulatively raise Rs 17,841 crore, the most since November 2017.

In August, 5.86 million IPO mandates got created through UPI, according to data released by the National Payments Corporation of India (NPCI), the umbrella entity for retail payments in India.

The preceding month saw a record 7.66 million mandate creation requests on the back of blockbuster IPO of food delivery firm Zomato. The IPOs of