Can I make more than one IPO applications to improve my chances of getting allotment in the IPO?

Making multiple applications is not only wrong but it will also lead to rejection of application. Multiple applications are seen by the regulator as a fraudulent method of cornering shares by a handful of investors in the retail quota. SEBI is very strict about the misuse of the retail quota, so don’t do such things. To cut a long story short, the answer is one can only make a single application in an IPO in his/her name. More than one application from a single bank account are possible as long as applications are filed under different PANs. If more than one application are detected under a PAN in an IPO, all applications are liable to be rejected. The regulator also reserves the right to take action against such cases.