Can HNIs apply in an IPO through UPI?

Yes, HNI or NII can apply for an IPO through UPI because UPI virtual payment gateway allow transactions upto Rs 5 lakh thus, HNIs who want to place an IPO bid upto Rs 5 lakh can subscribe to an IPO through UPI payment gateway.

However, HNIs who want to invest above Rs 5 lakh cannot use UPI while applying for an IPO. They can submit IPO Application through net banking ASBA facility.