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Yes, given the maximum UPI limit of Rs 5 lakh, HNI investors with a bidding amount up to Rs 5 lakh can use UPI to invest in an IPO. Thus, HNI can now purchase IPO stocks with discount brokers like Zerodha, Upstox, Groww, etc.
Any HNI IPO application above Rs 5 lakh can be made through the ASBA process only where you need to either access net banking account or submit physically signed forms.
Zerodha Trade@20
