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

Any individual investor looking to apply for an IPO with an application value of less than ₹5 lakhs can use the UPI ASBA route. If you fall under the HNI (High Net-worth Individual) category, specifically for IPO applications ranging from ₹2 lakhs to ₹5 lakhs, UPI is the preferred method. For amounts up to ₹5 lakhs, UPI can be utilized, while for amounts exceeding ₹5 lakhs, it’s recommended to use ASBA.