What is the Full Form of NII in the Share Market?
The NII Full Form in the Share Market is Non- Non-Institutional Bidder. When people subscribe to an IPO, they are actually bidding for the shares of a company, but it is at the discretion of the company to allot these shares. Individuals who bid for shares that is worth more than Rs. 2 lakhs in any IPO are referred to as non-institutional bidders or investors.
Features of the NII category in share trading:
The Non-institutional bidder in an IPO gets 15% of the IPO offer reserved for them. The NIIS are free to withdraw their bids right up to the allotment date, and they cannot make bids at the cut-off prices. There are two types of NIIs, namely sNII, who bid under Rs. 10 lakhs, and bNII, who bid over Rs. 10 lakhs and all NIIs must register with the SEBI.
Who is categorized as NII?
Resident and nonresident Indian individuals, Hindu undivided families, resident Indian companies, corporate bodies and societies, trusts, and scientific institutions are categorized as Non-institutional bidders. The allotment of the shares to the NIIs will vary depending on whether they fall under the small non-institutional bidders or big non-institutional bidders category.