Is a UPI ID mandatory for an IPO?

No, a UPI ID is not mandatory for an IPO. While UPI is a popular and digital-first payment mechanism for retail investors, it is one of several options. You can also apply for an IPO using:

• Net Banking ASBA: Investors can use the Applications Supported by Blocked Amount (ASBA) facility through their bank's internet portal.
• Physical ASBA: You can submit a physical application form at designated bank branches or through intermediaries like brokers.

UPI is only mandatory if you choose to use the UPI payment route specifically. Each method ensures funds are blocked until share allotment.