You apply in the HNI (High Net-worth Individual) category—also called Non-Institutional Investor (NII)—by bidding for more than ₹2,00,000 and selecting the HNI/NII category when you place the bid. Everything else works like a retail application: you approve a UPI mandate that blocks the amount, and allotment happens after the issue closes.
How to apply in the HNI category
- In the IPO section, select the IPO and choose the HNI / NII investor category.
- Bid for a quantity worth more than ₹2,00,000.
- Approve the UPI mandate for the full bid amount.
The steps are otherwise the same as a retail application—see How do I apply for an IPO?. To change your bid while the IPO is open, modify it from the applied IPO and approve the new mandate, just like a retail bid.
How is HNI allotment different?
- HNI bids are not part of the retail lottery. If the category is oversubscribed, shares are allotted proportionately / by draw within the HNI sub-categories.
- HNI is split into two sub-categories: ₹2 lakh–₹10 lakh and above ₹10 lakh.
Why do HNI applications fail?
The most common HNI-specific issue is the UPI mandate limit. A UPI IPO mandate is capped at ₹5,00,000 per application, and many banks/apps also have their own limits—so a large HNI bid can fail if it exceeds what your bank or the UPI system will block. All the usual reasons apply too—see Why was my IPO application rejected?.