Applying for IPOs in India has become much simpler with the introduction of UPI. The National Payments Corporation of India (NPCI) has recently extended UPI facilities to Non-Resident Indian (NRI) clients, allowing them to use their NRE or NRO bank accounts with international mobile numbers linked to UPI.

From May 2025 onwards, NRIs can apply for IPOs up to ₹5,00,000 (₹5 lakh) through UPI. This development makes IPO participation faster and more convenient for global investors.

NRIs residing in the following 12 countries can link their international mobile number to UPI for IPO applications and other transactions:

• Australia (+61)
• Canada (+1)
• France (+33)
• Hong Kong (+852)
• Malaysia (+60)
• Oman (+968)
• Qatar (+974)
• Saudi Arabia (+966)
• Singapore (+65)
• United Arab Emirates (+971)
• United Kingdom (+44)
• United States of America (+1)

The following 16 banks are live on UPI for NRIs with NRE/NRO accounts and international mobile numbers:

1. Ensure your international mobile number is registered with your NRE/NRO bank account.
2. Download any UPI-enabled app such as BHIM, Google Pay, PhonePe, Paytm, or your bank’s UPI app.
3. Select your NRE or NRO account while setting up the UPI ID.
4. Generate your UPI PIN and verify using OTP sent to your registered mobile number.
5. Once activated, you can use the UPI ID for IPO applications.

1. Login to ProStocks mobile application.
2. Use the Bids option on the dashboard to access live IPOs.
3. Click on the desired IPO and enter UPI ID, Quantity, and Price (cut-off price available).
4. Applications of up to ₹5,00,000 can be applied through UPI. For higher amounts, use the ASBA option in your internet banking.