The National Stock Exchange (NSE) on February 19, 2025, introduced the Unified Payments Interface (UPI) in the Zero Coupon Zero Principal (ZCZP) instrument under the e-IPO module for the Social Stock Exchange (SSE).
The following has been stated namely: -
• It states that after consulting with stakeholders and SEBI, to extend the option of bidding in the ZCZP instrument under the e-IPO module for SSE to Registered Stock Brokers and Syndicate Members.
• It notifies that only Self-certified Syndicate Banks (SCSBs), Syndicate Members with a 3-in-1 account, and Registered Stock Brokers/Syndicate Members on the e-IPO platform are eligible to bid for the ZCZP instrument.
• It states that the UPI facility to block funds will be introduced for individual investors applying for ZCZP instruments with application values up to Rs 5 Lakhs through Syndicate Members with a 3-in-1 account and Registered Stock Brokers/Syndicate Members on the e-IPO platform.
• It states that the Mock bidding session for the additional UPI facility for ZCZP instruments shall be held on the e-IPO platform from February 20 to 21, 2025, with security parameters provided in Annexure 1.
• The provisions of this circular shall be applicable for ZCZP instruments opening on or after February 25, 2025.
Detailed notification is attached below
[Circular No: 01/2025]
