The allowed number of ASBA IPO application per bank account varies by the bank to bank. Some banks like SBI allows up to 5 IPO applications per bank account while other banks like ICICI Bank only allow 1 IPO application.
If the bank allows multiple applications, it doesn't matter whose name these applications are on. They could be friends, family or someone else's name.
Please note that only 1 IPO application is accepted per person (technically 1 application per PAN Number). if more then 1 application is filled with same PAN number, all the application under that PAN number will be canceled.
An investor can debit a bank account for a maximum of x application for an issue. This number of specified as below:
No. of IPO Applications
