How to apply for an IPO for your whole family

Many households in India apply for the same IPO from several family members — a spouse, parents, grown-up children. Done one by one, that means logging in to several apps, filling the same form again and again, and chasing everyone to approve their UPI request in time. This guide covers what each person needs, the rules that matter, and a simpler way to do it.

Why families apply from more than one member

In most mainboard IPOs, the retail category is heavily oversubscribed. When that happens, shares are allotted by a lottery among retail applicants, and each successful applicant usually gets one lot. Applying for more lots from one account rarely improves your chances. What counts is the number of valid, separate applications — and each family member with their own PAN and demat account can make one.

Each person can apply only once per IPO with their PAN. Multiple applications under the same PAN are rejected, so every family member applies from their own account.

What each family member needs

Before the IPO opens, make sure every person who will apply has:

A PAN in their own name
An active demat account (with NSDL or CDSL) linked to that PAN — this is where allotted shares are credited
A UPI ID linked to a bank account in their own name — the money for the application is blocked from this account
The UPI app on their phone, so they can approve the payment mandate

The bank account behind the UPI ID must belong to the applicant. Using someone else's UPI ID — even a family member's — is not allowed, and the application can be rejected.

The rules worth knowing

Retail limit: an individual applying for up to ₹2 lakh is a retail investor. Above that, the application falls in the non-institutional (HNI) category, where allotment works differently.
UPI limit: applications paid through UPI can be up to ₹5 lakh.
Cut-off price: retail investors can tick "cut-off", which means they agree to pay the final issue price. It is the simplest choice for most retail applications.
Lots: you apply in whole lots. The lot size and price band are announced before the issue opens.

Applying, step by step

Check the IPO details — the price band, lot size and the dates it opens and closes.
Decide who is applying and how many lots each person wants, staying within the retail limit if you want the retail category.
Submit an application for each member from their own demat account, with their own PAN and UPI ID.
Approve the UPI mandate — each member gets a request in their UPI app and must approve it before the deadline on the closing day.
Check allotment after the issue closes. If a member doesn't get shares, the blocked money is released back to their account.

Doing it in one go with Allotly

Allotly is built for exactly this. You add each family member once — name, PAN, demat client ID and UPI ID — and they stay saved and encrypted on your device. When an IPO opens, you pick the members, choose the category and lots for each, and submit all the applications together. Each member then approves their own UPI request, and you can see every application and its allotment status in one place.

It never asks for broker passwords, and it's free to use.

This article explains general rules for IPO applications in India. Check the offer document of each IPO for its exact terms, and invest according to your own judgement.