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A retail application in an IPO refers to the number of application submitted by an individual retail investor to buy shares of a company that is going public.
In simple terms — when an IPO opens, retail investors can apply for shares through their demat account or broker platform under the Retail Individual Investor (RII) category.
Retail investors are small investors who invest upto Rs 2 lakh in mainboard IPO. In SME IPO, retail investors are called individual investors who apply for a minimum of two lots requiring minimum investment above Rs 2 lakh.
