Can an IPO be applied for in the HNI category?
IPO applications ranging from ₹2 lacs to ₹5 lacs are categorized as HNI (High Net-worth Individual). For amounts up to ₹5 lacs, UPI can be used, and for amounts exceeding ₹5 lacs, ASBA should be used. To learn more about ASBA, see What is ASBA?
There is no specific selection to apply for an IPO in the HNI category. Instead, any bid greater than ₹2 lacs is automatically considered HNI. The window for HNI category IPO applications closes at 4 PM on the final day of bidding.
According to SEBI IPO regulations, applications under the HNI category cannot be deleted or modified to decrease the application size. However, the application can be modified to increase its size. For instance, an application of ₹3 lakhs can be modified to ₹4 lakhs but not reduced to ₹2.5 lakhs. To learn how to modify the bid, see How to withdraw or delete an IPO application?