Can I apply for IPO in HNI Category?

Yes, any resident individual or non-resident individual (NRI) can apply in the HNI category. The HNI category is also known as Non-Individual Investors or NII.

A retail IPO application of more than Rs 2 Lakh is considered an HNI application. The shares for this application are allocated under the (Non-Institutional Investors) NII category.

Note:

• IPO application in HNI Category can only be made using ASBA through the net-banking facility.
• UPI cannot be used as a payment option for the HNI IPO application.
• Brokers like Zerodha, Angel, or Upstox do not offer HNI IPO applications as they offer UPI-based IPO applications.
• Similar to a retail application, funds remain blocked in your bank account. You continue earning interest on funds in your savings account.