How to Apply for an IPO Using UPI / ASBA

You can apply for an IPO through your broker's app or your bank's net banking (ASBA). The steps: 1. Open the IPO section in your broker app and select the open IPO. 2. Enter the number of lots and your bid price (or choose 'cut-off'). 3. Enter your UPI ID and submit. A mandate request arrives in your UPI app. 4. Approve the mandate before the cut-off time — the application amount is blocked (not debited) in your bank account. If allotted, the blocked amount is debited and shares are credited to your demat. If not allotted, the block is released. Applying via ASBA through net banking follows a similar block-of-funds flow without UPI.