Not in the Rupeezy app. Every IPO application placed on Rupeezy goes through the UPI-ASBA route, so you need a UPI ID from a bank or app that supports IPO mandates. If you'd rather not use UPI, you can apply through net banking on your bank's portal instead, and have the shares credited to your Rupeezy demat account.
What do I need to apply on Rupeezy?
- A UPI ID linked to your own bank account. The account must be yours — third-party payments aren't allowed.
- A bank or UPI app that's enabled for IPO mandates. Not every one is — see Which apps or banks currently support IPO applications through UPI ASBA?
When you apply, the UPI mandate blocks the application amount in your bank account, and that block is what confirms your bid. For the full flow, see How do I apply for an IPO?
How do I apply without UPI, using net banking?
Log in to your bank's net banking portal, open its IPO / ASBA section, and enter your Rupeezy demat details when the form asks where to credit the shares. You'll need two things:
- DP ID —
IN303420, the same for every Rupeezy demat account. - DP Client ID — unique to you. Both your Client Code and DP Client ID are in the Profile section of the app (tap your profile, then View Profile) and in Dock.
If the bank portal asks for your depository, select NSDL. Rupeezy demat accounts are held with NSDL.
For the full steps, depository details and what to check before you submit, see can I apply for an IPO through my bank and get shares in my Rupeezy demat. To see exactly where your details are, see where can I find my account details.
Why is UPI the only option in the app?
This isn't a Rupeezy restriction. SEBI requires individual investors who apply for up to ₹5 lakh through a stockbroker or other intermediary to use UPI — so the same rule applies across every broker, not just Rupeezy. It also means an application in the Rupeezy app can't be for more than ₹5 lakh — for a larger bid, use your bank's net banking as described above.
That's why the IPO application form asks only for a UPI ID, and why approving the mandate in your UPI app is a required step to place, modify, or keep an application live. If your UPI ID isn't supported, your application can be rejected — see Why was my IPO application rejected?