Can I apply in IPO without UPI?

Yes, if you do not use UPI then you can apply in IPO through ASBA or Net-banking (without UPI) process that was the only route to purchase IPO till 2019. In this process, you can invest in IPO through your bank's net banking portal. This is an indirect method wherein you provide your bank account details to your bank to apply for IPO. Noted that Demat account will be still required to hold shares in the dematerialized form.