Can I apply an IPO application in the name of Minor or HUF?

Short Answer

Yes, you can apply for an IPO applciation under a minor or HUF's name, provided they have different PAN card numbers.

Detailed Answer

As per the SEBI guidelines, a person willing to apply for an IPO can only apply once for a particular IPO. Any more than one application per IPO will lead to the rejection of all the extra applications applied. Its determined by the PAN number as to how many applications the traders or investor might have applied. However, when it comes to a minor or HUF willing to apply for an IPO, things change slightly.

An IPO application under the name of a minor or HUF can be applied provided they have their PAN card details, minor demat account, and savings bank account details. For bank account details, traders or investors can give their account details as banks allow up to 5 IPO applications to use the same bank account details. But do keep in mind, you cannot use your PAN card details. Only the minor’s or HUF’s PAN card details would be viable in this situation.

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Categories: IPO Basics
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Related FAQs

Can I apply in an IPO through multiple applications on same name?

No, a person cannot apply for a single IPO more than ones. There are strict rules and regulations followed in this matter. However, his/her family members can apply for the IPO under their name provided they have a demat account and PAN number.

Can I apply more than one IPO application in my name from different saving bank accounts in same bank or different banks?

Only one PAN card can be used for one application. No matter how many different savings account details you might utilize, if there is the same PAN number in more than two applications, then all of them would be revoked.

Can a minor apply in IPO?

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.

How to apply IPO in Zerodha? Buy IPO Online

If you are a Zerodha customer, you can apply for IPO online through Zerodha Console (Zerodha Back-office). The process for applying an IPO process has been explained in detail above. Here are few other answers to important queries that you may want to learn.

Where do I get an IPO application form?

An IPO application form can be procured from a syndicate office member of the IPO or a stockbroker. You can download and print the IPO forms.

How many IPO applications can I submit through online net banking from one bank account?

There are about 5 IPO applications that can submit through online net banking from one bank account. However, the number can change immensely from one bank to another.

Is it mandatory to have a PAN Number to apply in an IPO?

Yes, it is mandatory to have a PAN number to apply for an IPO since July 2006 as per Securities and exchange board of India (SEBI).

Can we apply for an IPO online on Sunday?

Yes, you can apply for an IPO application on Sunday as well but through an online application. But, you need to keep few points in mind before doing that.

Do I have to pay any brokerage at the time of applying for an IPO?

No, the application process for an IPO can be availed with zero brokerage fees. Applying in an IPO is free of cost and you don't have to bear a fee.

What are the basic requirements to apply in an IPO using the ASBA process?

ASBA or Application Supported by Blocked Amount is an alternative payment method to apply or bid for an IPO. However, it is currently available to only the Retail Individual Investors and you also need to fulfill certain requirements for the same.