Yes, you don’t need UPI to apply for IPOs — ASBA via net banking works perfectly. But having UPI makes the process much quicker, easier, and more convenient for all future IPO applications. UPI is now the standard, fastest, and most convenient way to apply for IPOs. It enables instant payment blocking (ASBA), quick approvals, faster refunds, and a smoother overall process. ArihantPlus, and all other trading platforms, use UPI as the primary mode for retail investors. 

But even if you don’t have a UPI ID, you can still apply. Here’s how: 

A. Apply through your bank using Net Banking (ASBA): 

• Log in to your bank’s net banking portal (like Acis, HDFC, ICICI, SBI, etc). 
• Look for the IPO / ASBA / e-IPO section. 
• Here you will find the list of open IPOs, select the one you want to apply 
• Enter the IPO details, lot size, and your demat account number. 
• The bank will block the required amount until allotment. 
• This method is fully valid, SEBI-approved, and works even without UPI. 

B. Or create a UPI ID in minutes (recommended): 
  If you want a faster experience, you can set up UPI using apps like BHIM, Google Pay, Paytm, PhonePe, or your bank’s app. It takes less than 2 minutes and makes future IPO applications seamless.