No…! Get rid of this misunderstanding.
If you have applied LPUNEST which is an entrance as well scholarship exam for LPU, it does not mean that you will have to take admission in LPU only. LPU has set its own benchmarks to improve the quality intake of admission year by year this is the only reason they are doing filtration through LPUNEST.
On the other hand LPUNEST is only for scholarship in few programs. But there are such programs where LPUNEST is mandatory to qualify to take Admission in LPU, like B.tech, MBA and PhD.