Who are Non-Institutional Bidders?

Non-institutional bidders can be the residents of India, Eligible NRIs, companies, HUFs, corporate bodies, societies and trust, and scientific institutions who apply for more than Rs 2 lakhs of IPO shares.

The Non-individual bidders do not have to register with SEBI and they have the right to minimum 15 percent of the offer. In addition, the high Net-worth Individual (HNI) who apply for over Rs 2 Lakhs in an IPO comes under NII category.