Clarification needed regarding IPOs on Zerodha

IPOs
1

So what i understand is - In Mainboard IPO, we are not allowed to apply under HNI category (over 2 lacs)

I got the message saying - go to Bank ASBA and apply

But for SME IPO, i could apply multiple lots (upto 4 lacs INR)

So I am allowed to apply as NII in SME IPOs but not Mainboard IPOs. Any reason why?

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2

Hi @Newbie420

Applications up to ₹5 lakh can be placed using UPI irrespective of whether it is a mainboard or SME IPO.

can you please share further details about the message you received?

3

I guess i misread this error message

I will try next time, it should work then, I have to select bid price manually.

image

4

Yeah. The cut-off price cannot be selected for HNI applications, i.e., bids above ₹2,00,000.

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5

I remember submitting SME IPO for 2 lots which is more than 2 lacs

There i could select the cut off price

So this means for SME IPO, HNI can bid at cut off price?

6

Cut-off price option isn’t available for SME IPOs.

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7

@ShubhS9 @Meher_Smaran @nithin Wanted to confirm that if I apply for an amount above 10 lakh in an IPO, I am automatically a big HNI?

8

Yes, Anuj. The application will be automatically submitted under Big HNI category. However, on Kite you can make applications only up to Rs. 5 lakhs, as that is maximum UPI limit.

For applications above 5 lakhs, you will have to use Net Banking ASBA facility.

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