What is a valid IPO application?

An IPO application is considered valid if it meets all the following conditions:

  • The bid(s) are placed within the specified price band.

  • The quantity applied is in multiples of the lot size.

  • The applicant has sufficient funds (highest bid amount gets blocked in the bank).

  • PAN, Demat account, and ASBA/UPI details are correctly entered.

  • Only one application per PAN (retail category) is submitted.