What is the difference between QIB, NII, and RII?
Last updated August 22, 2026
This IPO News reference page covers “What is the difference between QIB, NII, and RII?”. The page is organized around find more questions on this topic, sme ipo enquiry. IPO News presents the structured facts and tables in its own layout and wording.
Topics Covered
- Find more questions on this topic
- SME IPO Enquiry
Key Facts
- India's trusted financial research platform since 2015. Live IPO GMP, subscription data, allotment status, Rights Issues, NCDs and unbiased stock broker reviews.
- Retail investors, non-institutional investors (NIIs), and Qualified Institutional bidders (QIB) are the three major categories of investors in an IPO apply process. Here is the difference between QIB, NII, and RII:
- 1. I am an NRI, which category should I apply in?
- 2. Who are anchor investors in an IPO?
- 3. Can a retail investor sell shares on the listing day?
- 4. How anchor investors are different from QIBs?
- 5. How HNI can apply in IPO?
- 6. Are chances of allotment increases, if I apply for more than 1 lot?
- 7. What is the difference between QIB, NII, and RII?
Data Tables
| QIB | NII | RII | |
|---|---|---|---|
| Meaning | SEBI registered financial institutions, commercial banks, mutual fund asset management companies, etc. | High-net worth individuals, NRIs, HUFs, corporates, trusts, etc. who invests for above Rs 2 lakh in an IPO. | Individuals, NRIs, HUFs, etc. who subscribe to an IPO worth maximum of Rs 2 lakh. |
| IPO investment amount | No limit | Minimum Investment: Above Rs 2 Lakh Maximum Investment: Upto Rs 10 Lakh | Minimum Investment: 1 IPO Lot Maximum Investment: Upto Rs 2 Lakh |
| Reservation | Not more than 50% | Not less than 15% | Not less than 35% |
| Bid withdrawal | Not Allowed | Not Allowed | Retail applicants can cancel their IPO bid before the issue closing day. |
| Lock-in | No lock-in for QIBs while Anchor investors who invests more than Rs 10 Cr in the QIB category, their investment is locked in for 30 days. | No lock-in on NII investment | No lock-in |
Source record: View original public source ↗