Welcome
Login

Can I modify my IPO application under the HNI category?

Modified on: Mon, 26 Oct, 2026 at 1:24 PM Print

Yes — you can modify an IPO application you submitted under the HNI category, the same way as any other category. The only restriction is that you can only increase it: SEBI's rules let you raise your price and/or lot count any time before the bidding window closes, but HNI (non-institutional) bids can't be lowered or withdrawn at any stage.

What can I change when modifying an HNI application?

You can increase your bid price and/or number of lots — for example, moving a ₹3 lakh HNI application up to ₹4 lakh. You cannot reduce it — for example, you can't bring a ₹3 lakh application down to ₹2.5 lakh. For HNI bids, this increase-only rule is a SEBI requirement.

For the exact steps — go to IPOs > Applied, tap the application, tap Modify, update the price and/or lots, agree to the terms, and approve the new UPI mandate — see How do I modify an IPO application?

Can I modify my HNI application down below the ₹2 lakh threshold?

No. Since modification only works upward, you can't modify an HNI application down toward or below the ₹2 lakh bid amount that put it in the HNI category in the first place.

What if I want a smaller bid instead?

You can't submit a smaller bid in place of your existing one. SEBI allows only one application per PAN per category — and Retail and HNI count as the same pool, so a second application from the same PAN there is rejected as a duplicate, not treated as a replacement for the first. See Why was my IPO application rejected? for the PAN rule. Your only options with an existing application are to increase it, or leave it as submitted.

Things to keep in mind

  • Modification is allowed only within the IPO bidding window, same as any category.
  • Individual (retail) bids are different: they can be lowered or cancelled until the issue closes — see How do I modify an IPO application?
  • You can't cancel an HNI application on Rupeezy either, for the same reason.
  • You can raise an HNI bid only up to ₹5 lakh, the UPI limit for IPO applications — the app won't accept a higher amount. See How do I apply for an IPO in the HNI (NII) category?