Is UPI mandatory for IPO?

No, UPI is not mandatory for an IPO application. While SEBI has introduced UPI as a convenient payment mechanism for retail investors, it is one of two primary methods available. Investors can choose between:

• UPI ASBA: Using a UPI ID to block funds through a mobile app.
• Net Banking ASBA: Directly blocking funds through a bank account's internet banking portal.

Both methods ensure that money remains in the investor's account until share allotment. However, for certain application types or higher transaction limits, net banking ASBA remains a standard option.