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 you can't reduce an application once it's submitted, in any investor category.
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. This increase-only rule is a SEBI requirement and applies to every investor category, not just HNI.
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 apply for an IPO?
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 IPO — a second application from the same PAN is rejected as a duplicate, not treated as a replacement for the first. See "How to avoid IPO application rejections?" 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.
- This increase-only rule applies to Individual and Employee applications too — it isn't specific to HNI.