Hello Investors,
Due to the high volume of IPOs with overlapping dates, some of you may have encountered the following issue today:
Your application status shows ‘Approve Mandate’ on Upstox, even after you have already approved the mandate.
Why did this happen?
When you approve an IPO mandate, the exchange provides us with an updated status, which we then reflect on our platform.
Today, due to an intermittent issue on the Sponsor Bank’s end, many of you either didn’t receive the mandate request or didn’t receive a confirmation when the money was blocked.
What did we do to resolve this?
Upon identifying the issue, we contacted the Sponsor Bank and immediately notified users, providing them with a confirmation of their mandate.