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Yes, you can subscribe to an IPO of your choice through 5paisa without UPI using the ASBA net banking facility. The ASBA process only requires you to have a net banking account with your bank without being a valid UPI ID.
To apply in IPO without UPI, log in to the net banking portal, go to IPO, tap on apply now in IPO of your wish, enter 5paisa demat account details, and submit the order. Once you have successfully placed IPO order, the money will be freeze in your bank account till the allotment finalizes.
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Zerodha Trade@20
