How to create .ipa file using Xcode?

Please tell me the complete procedure to build my app & use it on a real iPhone.

In Xcode Version 10.0

1. Go to Window -> Organizer
2. Then select your app archive from archives
3. Then click the "Distribute App" button on right panel

4. Then follow the below steps

Step 1

Step 2

Step 3

Step 4

Step 5

Step 6 : Finally select the place you want to save the .ipa file

In Xcode Version 9.2

1. Go to Window -> Organizer
2. Then select your app archive from archives
3. Then click the "Upload to App Store" button on right panel
4. Then follow the following steps

Step 1

Step 2

Step 3

Step 4 Finally select the place you want to save the .ipa file

In addition to kus answer.

There are some changes in Xcode 8.0

Step 1: Change scheme destination to Generic IOS device.

Step 2: Click Product > Archive > once this is complete open up the Organiser and click the latest version.

Step 3: Click on Export... option from right side of organiser window.

Step 4: Select a method for export > Choose correct signing > Save to Destination.

Xcode 10.0

Step 3: From Right Side Panel Click on Distribute App.

Step 4: Select Method of distribution and click next.

Step 5: It Opens up distribution option window. Select All compatible device variants and click next.

Step 6: Choose signing certificate.

Step 7: It will open up Preparing archive for distribution window. it takes few min.

Step 8: It will open up Archives window. Click on export and save it.

Click Product > Archive from the menu, once this is complete open up the Organiser and click the latest version > Distribute > Save for Enterprise or Ad-Hoc Deployment > Choose correct signing > Save to destination

You will need to Build and Archive your project. You may need to check what code signing settings you have in the project and executable.

Use the Organiser to select your archive version and then you can Share that version of your project. You will need to select the correct code signing again. It will allow you to save the .ipa file where you want.

Drag and drop the .ipa file into iTunes and then sync with your iPhone.

EDIT: Here are some more detailed instructions including screenshots;

How to distribute ad hoc build with XCode 4