Who can apply for an IPO: spouse, parents, minor, HUF
Many people apply for IPOs on behalf of their family. The rule is simple: every application belongs to one investor, with that investor's own PAN, demat account and bank account.
Adults: spouse, parents, adult children
Each adult can apply with their own PAN, demat account and bank account (or UPI ID linked to it). Each application is a separate entry in the allotment draw.
You can help them apply, from your phone or by guiding them, but the application, the money and the shares are theirs. Using your own UPI ID or bank account for someone else's PAN is a common reason for rejection.
A minor
A minor can be an applicant through a parent or guardian, with the minor's own PAN and demat account. The guardian applies on the minor's behalf; which bank account or UPI ID can pay depends on your broker and bank, so check with them first. Minors apply in the retail category, up to ₹2 lakh.
A HUF
A Hindu Undivided Family can apply as an investor of its own, with the HUF's PAN, demat account and bank account, represented by its karta. It is a separate applicant from the karta's own application.
What does not work
Two applications from one PAN in the same category, or as both Retail and HNI: all of them are rejected. Applying on someone's behalf without their knowledge. A UPI ID or bank account that does not belong to the applicant.
Rules can differ by issue and change over time; the offer document and your broker give the final word, especially for NRIs and other special categories.
Keeping track
With several people applying, record who applied for what, so none is missed and every result is checked. IPO Khata does that for a family and emails the results.
Related guides
- Can family members apply for the same IPO separately?
- How to track IPO applications for your whole family
- Why IPO applications get rejected
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.