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HNIs can place an IPO bid through the ASBA (Applications Supported by Blocked Amounts) process. They can either makes an IPO application through a net banking facility or choose to submit an offline application by filling paper-based ASBA form.
The process of applying for an IPO is the same as that of retail investors but the only thing is you have to select the HNI category. HNI can use either the net banking website or bank’s mobile application to bid for an IPO.
HNI with bidding amount ranging from Rs 2 lakh - Rs 5 lakh can also submit IPO bid with UPI.
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