Can applications be made for an IPO in the HNI category?
IPO applications of ₹2 lakh to ₹5 lakh are considered under the HNI category. Applications up to ₹5 lakh can be placed using UPI. For any amount above ₹5 lakh use ASBA. See What is ASBA?
There is no separate option to choose HNI while applying for an IPO, a bid above ₹2 lakh is considered under the HNI category. The IPO window for HNI clients closes at 3 PM on the last day of bidding.
IPO applications under the HNI category cannot be deleted or modified to reduce the size of the application according to SEBI IPO regulations. Modifications in this category can only be made to increase the size of the application. For example, an application of ₹3 lakhs can be modified to ₹4 lakhs, but cannot be reduced to ₹2.5 lakhs. To know how to modify the bid, see How can I withdraw or delete my IPO application? .
The IPO window for HNI clients is subject to change and currently closes at 4 PM on the last day of bidding. Bids collected after 3 pm are submitted to the stock exchange on a best-effort basis.