Suppose you were to invest less than two lakh rupees in an IPO, then your fall under the retail category. If anything more than two lah rupees, then you come under the HNI category. There is no in-between these two categories.
The simple answer to this question is NO. There is no chance where a trader or investor can apply for both the retail categories and HNI. If you apply below two lakh rupees, then you are automatically put under the retail individual investor’s category, which has a 35% reservation of shares to be allocated. Moreover, depending on the IPO, there might be some discounts as well offered under this category.
But if you were to invest more than two lakh rupees into an IPO, then you’re automatically considered as an HNI and fall under the non-institutional category. In case the HNI category is oversubscribed (which most often it is), then every subscriber gets at least one share for every 100 shares. The total reservation of shares for HNI is 15%. The rest 50% is for quantified institutional buyers.