 "UPI")
Mandate creation through the Unified Payments Interface (UPI) for initial public offerings (IPO) jumped in November amid record fund mobilisation.
According to data released by the National Payments Corporation of India (NPCI), the umbrella organisation for retail payments, over 7.6 million mandates were created in November compared with just 1.14 million the preceding month.
A record Rs 36,000 crore was raised through IPOs in November—more than double the previous record made in November 2017. The month saw big-ticket IPOs of Paytm, Policybazaar, and Nykaa.
Despite the record fundraise, mandate creation was lower than in July, when a record 7.66 million UPI IPO mandates
