Could you please explain how and who can apply in SME IPOs?

You can apply for an SME IPO offline and online. Prerequisites for applying to a SME IPO (offline or online) is a Demat and Bank Account.

1. How to apply Offline - You need to get the ASBA application form for the IPO. The form is available with banks, brokers, lead managers etc. Fill the form and submit it in the designated bank with the required money. If you are alloted shares, the shares will be credited to your demat account and if not then refunds will made through a check sent to your address.
2. How to apply Online - Applying for SME IPO online is easy. You need to have a trading account with a broker. Login to the website, choose the IPO and fill in a few details. Your application amount would be blocked in the bank account linked with your trading account. It will only be debited when you are allotted shares.