# EAAA IPO HNI Quota: Small NII vs Big NII Explained > EAAA IPO HNI (NII) quota: 15% of the net issue, split 1/3 small NII (INR 2-10L) and 2/3 big NII (>INR 10L). Minimum bids and how allotment works. - **Published**: 2026-10-26 - **Modified**: 2026-10-26 - **Category**: ipo - **URL**: https://www.tldr.money/articles/ipo/eaaa-ipo-hni-nii-quota --- This guide explains the **EAAA IPO HNI quota**, officially the non-institutional investor (NII) portion, including the "big NII" category some people call the UHNI quota. It is part of the [EAAA IPO DRHP and RHP breakdown](/articles/ipo/eaaa-ipo) and our [IPO guides](/ipo). **Last updated: 26 October 2026.** Public bidding is open 26-28 October 2026. We are not publishing a live subscription tracker for this issue yet -- check NSE/BSE bid details. > **Educational content, not investment advice.** This page explains the issue using the company's own offer documents and exchange filings. tldr.money is not a SEBI-registered investment adviser or research analyst, and nothing here is a recommendation to apply for, buy, sell or hold any security. IPO investments can lose money, including on listing day. Read the [red herring prospectus](https://www.bseindia.com/corporates/download/387043/IPO%20Open/6RHPsigned_20261022142231.pdf) before you bid, and speak to a SEBI-registered adviser if you need personal advice. ## Who is an HNI in an IPO? SEBI's rules do not use the term HNI. They define a **non-institutional investor (NII)** as anyone who is not a QIB, a retail investor or an eligible employee or shareholder bidding in a reserved portion, and who bids for **more than INR 2 lakh**. In this RHP, that typically includes resident individuals, eligible NRIs, HUFs, companies, trusts, societies, family offices and some foreign portfolio investors. The NII portion is split into two sub-categories: | Sub-category | Common name | Bid size | Share of the NII portion | |---|---|---|---| | Small NII (sNII) | HNI, "small HNI" | More than INR 2 lakh, up to INR 10 lakh | One-third | | Big NII (bNII) | "UHNI", "big HNI" | More than INR 10 lakh | Two-thirds | "UHNI quota" is market slang, not a separate category. There is no third NII bucket in a standard RHP. ## EAAA IPO NII quota size The RHP says **not less than 15% of the net issue** goes to NIIs. Aggregator tables that cite the full OFS of about 72.07 lakh shares put NII at 10,81,081 shares (15%). BSE's live IPO page shows a different share count for "Issue Size - No. of Shares" (52,99,684); treat exchange parameters and the RHP as authoritative when they differ from aggregators. Share counts (fill from NSE/BSE post-anchor parameters when published), at the INR 1,665 cap: | | Shares (official) | Value at INR 1,665 (our calculation) | |---|---|---| | NII portion (15% of the net issue) | 10,81,081 | about INR 180 crore | | Small NII (one-third) | 3,60,360 | about INR 60 crore | | Big NII (two-thirds) | 7,20,721 | about INR 120 crore | ## Minimum and maximum application amounts At the INR 1,665 cap and the 9-share lot: | | Lots | Shares | Amount | |---|---|---|---| | Small NII minimum | 14 | 126 | INR 2,09,790 | | Small NII maximum | 66 | 594 | INR 9,89,010 | | Big NII minimum | 67 | 603 | INR 10,03,995 | | Big NII maximum | Up to the NII portion | | Subject to investor limits | NIIs cannot bid at the cut-off price. You must bid at a specific price within the band, and your bid amount must clear the threshold at that price.
- **Minimum bid** to be in big NII: more than INR 10 lakh, so **67 lots (603 shares, INR 10,03,995)** if you bid at INR 1,665. - **Minimum allotment** in big NII: usually **14 lots (126 shares)**, the same as small NII -- confirm in this issue's basis of allotment. - So a big NII winner in an oversubscribed lottery often gets the **minimum NII block, not the full big-NII minimum bid**.
## How allotment works for small and big NII The RHP applies SEBI's rule for NII allotment (Schedule XIII of the ICDR Regulations): 1. **Each successful NII gets at least the minimum NII application size**, subject to availability. 2. **If there are not enough shares for every applicant to get that minimum, applicants are picked by a draw of lots**, as SEBI's rules provide. This applies in each sub-category separately. 3. **Any shares left after the minimum allotments** are allotted proportionately. Bigger bids do not buy a bigger minimum. They only matter if the category is not heavily oversubscribed. ## Paying for an NII bid - **UPI works only up to INR 5 lakh.** Larger NII bids must use ASBA. - **You cannot withdraw or lower your bid.** QIBs and NIIs can only revise upwards under typical RHP rules. - **The full amount is blocked** until allotment. Walk through the steps in [how to apply for the EAAA IPO](/articles/ipo/how-to-apply-eaaa-ipo), and see the full [lot table by category](/articles/ipo/eaaa-ipo-price-band-lot-size). ## Related EAAA IPO guides - [EAAA IPO: DRHP and RHP breakdown](/articles/ipo/eaaa-ipo) - [EAAA IPO price band and lot size](/articles/ipo/eaaa-ipo-price-band-lot-size) - [How to apply for the EAAA IPO](/articles/ipo/how-to-apply-eaaa-ipo) - [EAAA IPO allotment status](/articles/ipo/eaaa-ipo-allotment-status) - [EAAA IPO dates and timeline](/articles/ipo/eaaa-ipo-dates-allotment-status) ## Sources Primary sources first. Links accessed 26 October 2026. - [EAAA India Alternatives Limited, Red Herring Prospectus (PDF hosted on BSE)](https://www.bseindia.com/corporates/download/387043/IPO%20Open/6RHPsigned_20261022142231.pdf) - [Edelweiss Financial Services / EAAA price-band intimation to BSE & NSE, 20 October 2026 (PDF)](https://www.bseindia.com/xml-data/corpfiling/AttachLive/0caed369-e00e-4e64-9ac1-2235e864896c.pdf) - [EAAA anchor allocation intimation (PDF on BSE), 23 October 2026](https://www.bseindia.com/downloads/UploadDocs/Notices/Attach/SEIntimationanchor$76e65e53-6717-46e6-beb7-720e2192ce6f.pdf) -- 21,62,161 shares at INR 1,665 - [BSE IPO page -- EAAA India Alternatives Limited (symbol EDELALTS)](https://beta.bseindia.com/markets/publicIssues/DisplayIPO.aspx?IPONo=8054&id=4901&idtype=1&startdt=26%2F10%2F2026&status=F&type=IPO) --- - [More ipo articles](https://www.tldr.money/articles/category/ipo) - [All articles](https://www.tldr.money/articles)