Is UPI compulsory for IPO?

No, UPI is not compulsory for applying for an IPO. While it is a popular and streamlined payment method for retail individual investors, you can also use the ASBA (Applications Supported by Blocked Amount) facility through your bank's net banking portal. ASBA allows you to apply for an IPO by blocking the required funds directly in your bank account without using a UPI ID. Both methods ensure that your money remains in your account and continues to earn interest until the shares are allotted.