Is there any eligibility criteria to apply for an IPO using the UPI ASBA?

There is no eligibility criteria to apply for an IPO! However, there 2 things to keep in mind: 

1. Your maximum IPO application value cannot exceed ₹ 2,00,000/- via the UPI ABSA source. 
2. You can only apply for one IPO issue at a time using the same UPI ID.