I have a Demat account in Zerodha. I recently tried to subscribe to CSDL IPO using my Axis Bank account. It gave a error like “This Category is not available for bidding for this IPO”.
When enquired to Axis bank, they told - “As per the confirmation received from the team, NII (Non Institutional Investors) category is not allowed under Retail internet banking.”
So is there any way we can subscribe in NII category using the Zerodha Account?
You don’t need to register an NII. If you apply for an IPO over 2 lakhs you will automatically be characterized as an HNI and as one you can pply upto 1 crore.
In Axis Bank, they have two categories. NII and RII. RII allows upto 2L. for more than 2L, we have to select HNI
Same here. I got the same error. Were you able to solve the issue with Axis bank?
Or should we proceed with RII category only as it does take more than 2 lac for applications.
