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The SBI did not allow third party IPO application today, for the LIC IPO. I wanted to apply in my son's name after having registered his PAN and Demat account number in my SBI SB account. This seems to be a new development, as they have allowed such third party applications for IPOs earlier. Can you give reference to any recent SEBI circular on this?

Yes, I am also facing the same problem. SBI is not accepting third party IPO applications. Is there any other alternative to apply for third party applications ?