How do I set-up AutoPay for an IPO? 

To set up an AutoPay, 

1. Go to the broker’s platform. 
2. While bidding for shares, select UPI as your preferred payment mode. 
3. Enter the UPI ID (VPA) associated with the bank account you want to use to make this payment, and proceed. 
4. You will receive a payment request on your PhonePe app. Verify the payment request details and tap Accept in the pop-up.
5. Tap Continue in the pop-up that will display the ‘₹ ‘X’ will be blocked in your account’ message. 
6. Enter your UPI PIN. 

If the authorisation is successful, your bank will block the amount in your account for this payment. Your bank statement may not show the blocked amount as a debit entry until the amount is deducted from your account. 

Note: You can tap AutoPay Settings under the Payment Management section  of your PhonePe app for more details about the AutoPay you’ve set up for IPOs. 

Related question(s):
What do I need to know about the IPO bidding process?
What if my share allocation is successful?
What if my share allocation fails?