Answer
SEBI rules are very strict: only one application is allowed per PAN in any IPO. You can apply for multiple applications in a single IPO, but you must use different PAN numbers. The same PAN for multiple applications means all of them will be rejected.
Here is how you can apply for multiple IPOs safely:
- Use Your Family’s Accounts: The best way is to use the PAN and Demat accounts of your family members (like your spouse, parents, or adult children).
- Separate Bank Accounts: Ideally, each application should come from a different bank account or use a unique UPI ID. However, some banks might allow up to five applications (check with your bank).
- Use Different Broker Apps: You can use various trading/Demat apps (like Zerodha, Groww, ICICI Direct) to submit applications for different family members.
- HUF Account is an Option: With a Hindu Undivided Family (HUF) account, you can use it for one extra application, which is separate from your individual application.
- Avoid Duplicate Details: Make sure the name, PAN, and UPI ID are unique for every application to prevent the system from flagging it as a “duplicate.”