As per SEBI guidelines, you can only have one IPO application with one PAN card. One PAN Card= One IPO Application.
Nowadays, in retail category good IPOs are oversubscribing with very heavy volume. In such case, chances of getting an allotment for your single application is very low. To overcome this issue, you can apply in IPO from multiple family members account. You can open trading and demat account for your parents, spouse and minor kids and apply in IPO application from all the account.
You can also open HUF account for which you need to apply for PAN card in HUF category and open a new bank, trading and demat account.
As per SEBI guidelines you can fill 5 applications from one bank account. Few banks like SBI, Union Bank, Axis bank ASBA process allow you to fill up to 5 IPO application from one bank account. In such a case, you can manage all your family members IPO applications from one bank account. Still banks like ICICI, HDFC are not allowing multiple applications.
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