IPO SaathiGuide
IPO Lot Size and How Much Money You Need
In short
An IPO is applied for in lots, and a lot is a fixed number of shares. The money you need is the number of lots times the shares in a lot times the upper price band. Retail applications go up to ₹2 lakh. Larger ones are HNI applications.
The amount for an application
Amount = lots × shares per lot × upper price band. IPO Saathi uses the upper price band, the most you can be asked to pay, because the final price is not known when you apply.
Example: a lot of 120 shares and an upper price band of ₹124. One lot is 120 × ₹124 = ₹14,880.
Where the categories start
| Category | Application size |
|---|---|
| Retail | Up to ₹2,00,000 |
| Small HNI (sNII) | Above ₹2,00,000, up to ₹10,00,000 |
| Big HNI (bNII) | Above ₹10,00,000 |
In the example, 13 lots cost ₹1,93,440 and are still retail. 14 lots cost ₹2,08,320, which is above ₹2 lakh. The small HNI band runs up to 67 lots (₹9,96,960). 68 lots cost ₹10,11,840 and are big HNI.
SME IPOs
In an SME IPO the smallest application is 2 lots. See SME vs mainboard.
In IPO Saathi
Tap the lot size of any IPO to see the amount for each application size, from the smallest to the start of big HNI. The same table is on every IPO page under "price band, lot size and the amount you need".