In order to become an IPS officer you will have to meet below criteria -
Step 1: Written Exam - You will have to give Union Public Service Commission (UPSC) which is organize by Civil Services exam every year, happens in 3 sessions, Preliminary, Mains, and Interview. Step 2: Age and Education - Graduate candidate can apply for this exam. Age limit for IPS exam is 21 to 30 years. But candidates belong to ST/ SC category can appear for this exam until the age of 35. Step 3: Physical Requirement- Height - Height should be for ST/SC/OBC candidates is 160 centimeters (Minimum). Whereas, female candidates require a minimum height of 150 centimeters and women of ST/SC/OBC candidates are given relief of 5 centimeters. Chest and Eye Sight - For male candidates , they must have the chest of 84 centimeters and female candidates must have the chest of 79 centimeters.
Hope this helps!!!

Below is the eligibility criteria of the exam you can check

1) Physical criteria- The physical criteria for eligibility of the IPS officer is as follows:

Minimum Height - Men - 165cm                   Women - 150cm

Relaxable minimum height is 160cm (men) and 145cm (women) for candidates belonging to ST. Minimum Chest Girth - Men/Women: 84cm 79cm, Myopia (including cylinder) should not exceed minus 4.00D Hypermyopia (including cylinder) should not exceed plus 4.00D. The presence of Squint is a disqualification Spectacles are permitted Distant vision for better eye(Corrected Vision) should be 6/6 or 6/9 Distant vision for the worse eye(Uncorrected Vision) should be 6/12 or 6/9 Near vision should be J1 and J2 respectively High grade color vision is required and Binocular vision is needed. 

2) Educational Qualification: A candidate must hold a Bachelor's degree from any of the universities recognised by the UGC or possess an equivalent qualification. 

3) Age Limit : Candidate should fulfill the age limits mentioned below: Minimum age 21 years Maximum age 30 years as on 1st of August in the year of examination.

 4) Number of attempts: The number of attempts restriction to appear for the exam is as follows: For General category candidates: 4 attempts

For SC/ST candidates: No restriction

For OBC candidates: 7 attempts