Have you ever wondered id a minor can apply for an IPO? Yes, a minor can apply for an IPO given that he/she has a PAN card and a Demat account.
To answer this question in detail, let's take into consideration what a minor exactly means. Minor is an individual who happens to be below 18 years of age. Especially in India, you are classified as a minor if you're below 18 but an adult if you are above 18 years. All the rules of regulations that regarding adults and minors are different when it comes to financial institutions and transactions of any type.
When It comes to applying for an IPO, minors can apply for an IPO given that they have a Demat account. They cannot open a Demat account by themselves as they need to be supervised by an adult or a guardian. If the minor has no parents then, a court will appoint an adult in their IPO investing endeavor. However, for minors to invest in an IPO, they need to have a PAN card.
Summing everything together, a minor can apply for an IPO given that they have a Demat account and PAN card. But once they turn into an adult, then they have two options. Either to convert the minor Demat account to a major one or close the minor account entirely. Its up to them to decide. If you're wondering why a Demat account is required, then it's where all the shares that you will be getting from an IPO will reside, and the trading account is where these shares are traded in the stock market.