Opening a demat account for a family member to apply for IPOs

Applying from more family members' accounts is the legitimate way to improve a family's chances in a popular IPO. Each person needs their own set of accounts first.

What each person needs

A PAN card, Aadhaar linked to a mobile number for e-KYC, a bank account in their own name with UPI or net banking, and a demat and trading account linked to the same PAN.

Opening the accounts

Most brokers open a demat and trading account online in a day or two: PAN and Aadhaar e-KYC, a photo, a signature, bank proof and nominee details. Make sure the bank account added to the broker is the person's own, because IPO payments must come from it.

Minors and HUFs

A minor can have a demat account run by a guardian, and an HUF can have its own PAN and demat. The rules for each are in the guide on who can apply for an IPO.

Then keep it all in one place

With several accounts, tracking who applied for what gets harder. Add each family member to IPO Khata once, and record their applications as you place them.

Related guides

• Who can apply for an IPO: spouse, parents, minor, HUF
• Using a family member's UPI ID or bank account for your IPO
• How to track IPO applications for your whole family

More on applying for an ipo

• How to apply for an IPO in India
• Can family members apply for the same IPO separately?
• 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)

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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.