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

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

·        Eligibility: Individual investors with application values below ₹5 lakhs can utilize the UPI ASBA route for IPO applications.

·        HNI Classification: Applications falling between ₹2 lakhs to ₹5 lakhs are classified as HNI (High Net-worth Individuals).

·        UPI Acceptance: For application amounts up to ₹5 lakhs, UPI is acceptable as a payment method.

·        ASBA Requirement: For amounts exceeding ₹5 lakhs, ASBA (Application Supported by Blocked Amount) should be employed.

·        ASBA Process: ASBA is a process where the application amount is blocked in the investor's bank account until the IPO allotment process is completed.

·        Security and Efficiency: ASBA ensures that investors have the necessary funds available for their IPO applications while providing security and efficiency in the application process.


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