Applying for an IPO twice with the same PAN: what happens
It is a common question when you have more than one demat account or use more than one broker: can I apply for the same IPO twice? The short answer is no. The PAN is what counts, not the account.
One PAN, one application
For a given IPO, each PAN can make one application in a category. A second application with the same PAN, through another broker, another bank or another demat account, is a duplicate. When the registrar finalises the basis of allotment, duplicates are found by PAN and rejected, and you can lose the chance of an allotment you would otherwise have had.
Having several demat accounts does not change this. They all carry the same PAN, so they all count as one investor.
Modify, don't apply again
If you want to change the number of lots or the price, modify your existing bid while the IPO is open instead of placing a new one. The guide on modifying or cancelling an IPO application explains how.
The right way: one application per family member
Each adult family member with their own PAN, demat account and bank account (or UPI ID) can apply separately. That is how families legitimately increase their chances in an oversubscribed IPO, because retail allotment is a lottery per application.
The money for each application should come from that person's own bank account, linked to their own PAN. Applying for someone else from your account is a common reason for rejection.
Keeping track
With several family members applying, it is easy to lose track of who applied for what and how much is blocked. IPO Khata records every application by person, checks each PAN's allotment and emails the results.
Related guides
- Can family members apply for the same IPO separately?
- Why IPO applications get rejected
- How to track IPO applications for your whole family
More on applying for an ipo
- How to apply for an IPO in India
- The IPO UPI mandate, explained
- What the cut-off price means in an IPO
- How to modify or cancel an IPO bid
- Applying for an IPO through net banking (ASBA)
- When to apply for an IPO
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Information, not investment advice. GMP is an unofficial grey-market indicator; figures come from public sources (InvestorGain) and may be late or wrong. Not registered with or affiliated to SEBI, the exchanges, the registrars or InvestorGain.