Can I apply for an IPO for my parents or spouse?

Yes, you can help your parents or spouse apply for an IPO — and many families do. The key is that the application is theirs: their own account, their own money, and their own approval.

What they need

• Their own PAN.

• Their own demat account, where allotted shares are credited.

• A bank account in their name with a UPI ID linked to it, and the UPI app on their phone.

If your parents don't have a demat account yet, they'll need to open one with a broker first.

Whose money is used

The amount is blocked from the bank account linked to their UPI ID — you can't pay for their application from your own UPI ID or bank account. If you want to fund it, you'd transfer money to their account first.

Gifts between close relatives are generally not taxed in India, but income earned on money gifted to a spouse can be added to the giver's income. If you're moving larger amounts, check with a tax adviser.

What you can do for them — and what they must do

You can fill in and submit the application on their behalf, with their consent, and keep track of it.

They must approve the payment request that arrives in their UPI app, before the deadline on the issue's closing day. That step can't be done for them — so let them know an application is coming.

Doing it for both parents and your spouse at once

Allotly lets you add your parents, spouse and yourself once, then apply to an IPO for all of you together, choosing the category and lots for each person. Each of them gets their own payment request to approve, and you can follow every application and its allotment in one place. It never asks for broker passwords and is free to use.

This article explains general rules for IPO applications in India and is not tax or investment advice. Check the offer document of each IPO for its exact terms, and invest according to your own judgement.