Who can apply for an IPO using the UPI ASBA route?
Any individual investor with an application value of less than ₹5 lakhs can apply through UPI ASBA. IPO applications ranging from ₹2 lacs to ₹5 lacs are categorised as HNI (High Net-worth Individual). For amounts up to ₹5 lacs, UPI can be used, and for amounts exceeding ₹5 lacs, ASBA should be used. To learn more about ASBA, see What is ASBA?
Did you know? It is not possible to submit more than one IPO application using the same UPI ID, even if multiple demat accounts are held.