Yes—a minor can apply for an IPO, but the application must be made in the minor's own name through a demat account opened for the minor and operated by the guardian. Rupeezy supports minor accounts, so the guardian applies on the minor's behalf, using the minor's PAN and a bank account in which the minor is the holder.
How does a minor apply for an IPO?
- The application is placed from the minor's demat account, which the guardian operates until the minor turns 18.
- It uses the minor's PAN.
- It must be funded from a bank account where the minor is the holder (operated by the guardian). As with any IPO, third-party payments aren't allowed—the UPI ID / bank account must belong to the applicant, i.e. the minor, and match the demat account. See Why was my IPO application rejected?.
Once set up, applying works like any other IPO—see How do I apply for an IPO?.
Note: The minor's account is operated by the guardian until the minor turns 18, after which it is converted to a regular (major) account.