In an IPO, can an individual apply for non institutional category of bidder?

Yes, in an IPO an individual investor can apply for the Investors Non Institutional category.

"Non-institutional bidders" are individuals, NRI's and companies that bid more than Rs 1 lakh. They do not need to register with SEBI as RII's. The Book Build IPO's allocation to non-institutional bidders is 15%.

Retail investors have few options and disadvantages when applying for the IPO under the non-institutional category.

The advantage is that there is no limit on the amount you can apply. Individual investors can bid for any amount within this category, except the limit of Rs 100'000 in the Retail category.

The disadvantage is that 15% of shares are not part of the Non Institutional Investors category. Retail Individual Investors (RIIs), which holds 35% of the total shares, has 35%. This means that the Non Institutional category is heavily oversubscribed and there are less chances of getting allotment.