ASBA or UPI which is better?

ASBA and UPI were introduced by SEBI with the intention of making the IPO application process simpler, more efficient, convenient and time efficient for IPOs.

The introduction of ASBA eliminated the use of cheques and demand drafts for the IPO application. The introduction of the UPI IPO application is another step towards digitizing the process and removing offline processes in the IPO application process.

Benefits of using ASBA

• Does not require a smartphone or UPI ID.
• Open for all investor categories (except Anchor Investors)
• IPO application for minors possible.

Benefits of using UPI

• Convenient through mobile apps.
• Can apply through brokers provided the broker offers UPI IPO facility.
• Pre-IPO application possible provided the broker offers the said services.