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Can retail investors apply in the HNI category using UPI in an IPO?

Can retail investors apply in the HNI category using UPI in an IPO?

Updated 9 December 2025

Language: EN

Retail investors cannot apply in an IPO using UPI under the HNI category . The transaction limit under UPI for IPO is a maximum of Rs 2 lakh per transaction. An investor has to use the ASBA IPO application to apply in the HNI category.

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