IPO applications ranging from ₹2 lacs to ₹5 lacs are classified as HNI. UPI can be used for amounts up to ₹5 lacs, and ASBA should be used for amounts exceeding ₹5 lacs.

 

There is no specific option to apply for an IPO under the HNI category. Instead, any application greater than ₹2 lacs is automatically classified as HNI. The window for HNI category IPO applications closes at 4 PM on the last day of bidding.

 

As per SEBI IPO regulations, applications under the HNI category cannot be reduced in size. However, they can be increased in size. For example, an application for ₹3 lakhs can be modified to ₹4 lakhs but not reduced to ₹2.5 lakhs.