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Can both the joint demat account holders individually apply for an IPO?

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No, they cannot.

As per the rules below:

Joint Bids in the case of Individuals

Bids may be made in single name or as joint Bids. In case of joint Bids, the Bid cum Application Form should contain only the name of the First Bidder whose name should also appear as the first holder of the beneficiary account held in joint names. The signature of only such First Bidder would be required in the Bid cum Application Form and such first Bidder would be deemed to have signed on behalf of the joint holders.

Multiple Bids

A Bidder should submit only one Bid (and not more than one) for the total number of Equity Shares required.

Also Note: Name of sole/ First Bidder should be exactly the same as it appears in the depository records. In case of joint Bids, only the name of the First Bidder (which should also be the first name in which the beneficiary account is held) should be provided in the Bid cum Application Form.
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3 Comments

3. Ankit   I Like It. |Report Abuse|  Link|Mar 3, 2021 8:00:15 PMReply
I have a joint account wherein I am the first holder and my father is second holder. I have dear in my name and I want to apply for IPO but am not in India. Can my father who is either or survivor in my bank account sign the IPO form and submit for asba?? My father doesn't apply for IPO.
2. pcchacko   I Like It. |Report Abuse|  Link|Oct 9, 2010 5:08:51 PMReply
Incase of joint demat holder only first person in the demat account can apply for IPO If tey have got another demat account where the second holder of the previous one is the first holder
1. Thejasvi.M.K   I Like It. |Report Abuse|  Link|Feb 4, 2008 2:39:15 PMReply
No. Only one application can be submitted for an IPO from a joint demat account. While applying for an IPO, PAN numbers of both the joint account holders is mandatory and therefore the joint account holders cannot apply from their individual demat accounts as again the PAN number is mandatory and two appication for the same PAN number will be rejected.

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