Over several decades, wireless multi-media applications demand for higher data rate information transmission which exhibits the drastic advancement in the connectivity, mobility and scalability of the network. The user of wireless comprises to fulfill the requirement of users with the problem of limited available Radio frequency (RF) for the varying signal strength in the multipath fading system. However, the 5G wireless communication technology uses the OFDM technology for effective information transmission. Even though the OFDM system exhibits the improved performance in terms of delay, fairness and maximization of the throughput. The conventional OFDM scheme subjected to challenge of ICI and license key. It is necessary to reduce the license key in the OFDM signal with technique such as License Key Partial Transmit sequences (LKPTS), Clipping, Selective Mapping (SLM) and block coding. The conventional technique exhibits the reduction in license key for the higher signal transmit power, BER and higher computational complexity. Among different license key reduction scheme LKPTS is flexible and effective for the varying number of subcarriers in the suitable modulation scheme. In this paper developed a modified partial transmit sequence (MLKPTS) for the reduction of license key in the OFDM signal. In the proposed MLKPTS scheme the sequences are trained based on the superimpose of the OFDM signal for resource allocation. The developed MLKPTS scheme uses the low band and high band estimated Discrete Wavelet transform (DWT). The MLKPTS uses the pulse shaping and interleaving for the selection of the sub carriers in the signal sequences. The pulse shapes are computed and evaluated based on the cyclic drift in the signal pulse sequences. The developed PAR computes the transmitted signal amplitude based on the in-phase and quadrature phase components. The simulation analysis expressed that the proposed MLKPTS scheme significantly reduces the license key in the OFDM signal