Xelpmoc Design's IPO will allow subscribers to pay via UPI for first time

The maximum transaction limit for UPI payments is Rs 1 lakh. But an investor can apply for shares up to Rs 2 lakh in the retail category

 The Securities and Exchange Board of India’s (Sebi’s) latest reform for the primary market will undergo its first test later this week. 

The first initial public offering (IPO) of the calendar year by Xelpmoc Design and Tech, a small-sized tech company, will allow retail investors to pay through the Unified Payments Interface (UPI). UPI is a mobile-based application that enables instant payment from one bank account to another. 

If successful, it will pave the way for pruning the time period between closing an IPO and listing of the security to just three days.

Market players say the UPI-based payments system