Why does the UPI mandate fail even when the IPO was allotted?
The UPI mandate might fail after the IPO is alloted due to technical issues from the bank. The registrar sends the allotment file to the bank based on which the funds are debited. The shares credited to the demat can be sold even if the funds are not debited. If the funds are not debited because of technical issues, the bank will re-attempt the debit later.