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High Net-worth Individuals (HNIs) are those applicants who place an IPO bid above Rs. 200,000. The category is further classified into two; small HNI (SHNI) and Big HNI (BHNI). SHNI are those individuals whose bid amount ranges from Rs 2 lakh – Rs 10 Lakh while BHNI invests more than Rs 10 Lakh to subscribe to an IPO.
Now, the question is how to apply for an IPO under the BHNI category, the answer is pretty clear ASBA (Applications Supported by Blocked Amount) is the only option available to HNIs. HNIs cannot purchase IPO directly through any broker via the UPI method because the UPI payment gateway has a maximum transaction limit of Rs 2 lakh.
Check out the step-by-step method to buy an IPO in the Big HNI category via ASBA net banking;
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