How HNI can apply in IPO?

High net-worth individuals (HNIs) or non-institutional investors (NIIs) make a minimum investment of Rs 2 lakhs. Thus, they cannot purchase IPO using the UPI payment gateway because the maximum transaction limit in UPI is Rs 1 lakh.

HNIs can either participate in an IPO through net banking ASBA facility or by physically submitting the IPO application form. ASBA is the most common or preferred method while applying in an IPO under NIIs.

Steps to apply in IPO under NII/HNI category;

1. Log in to your net banking account.
2. Go to the IPO investment option.
3. Select the IPO of your choice, and tap on Apply IPO option.
4. Select category as NII or HNI, and enter bid amount and biding price. HNI cannot bid at the cut-off price.
5. Submit the IPO apply order and the IPO application amount will be blocked in your bank account until allotment.
6. On the allotment, if you are allocated with the shares applied for, the amount will get debited, or in case of partial allotment, your bank account will be debited to the extent of shares allotted.