According to InstaPay's official FAQ, the app doesn't have a separate limit on receiving funds; the published limits apply to outgoing transfers.
Key points
However, the receiving account, card, or wallet itself may be subject to controls or limits set by the bank or service provider.
If you're expecting a large amount, make sure the receiving method itself is eligible.
The statement "no receiving limit in the app" doesn't mean that every account can receive any amount without any other restrictions.
The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.