Minors can apply for an IPO if they have an active demat account and a PAN card. There are more criteria that need to be fulfilled before filling an IPO application for a minor. These include:
Linking the minor’s demat account with the parent or guardian’s trading account. Without this, the minor can hold the shares (if allotted) but will not be able to trade them.
This account also needs to be linked to the minor’s bank account in which they are the primary holder.
Dual-KYC will need to be done to verify both the minor’s as well as the parent/guardian’s information.
In many cases, the parent/guardian’s PAN number will also be needed to complete the IPO application process.
Note: m.Stock does not provide provision to apply for IPO for minors.