Who can apply for an IPO using the UPI ASBA route?

You can apply for IPOs through UPI ASBA if you are an individual investor with an application value of less than ₹5 lakhs.

Short answer

You can apply for IPOs through UPI ASBA if you are an individual investor with an application value of less than ₹5 lakhs.

₹2 lakhs to ₹5 lakhs: Your application falls under the HNI (High Net-worth Individual) category.

Above ₹5 lakhs: You must use ASBA instead of UPI.

You cannot submit multiple IPO applications using the same UPI ID, even if you hold multiple demat accounts.

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