How many times can I apply for the same IPO with SBICAP?

As per SEBI guidelines, only 1 application per PAN Number is allowed in an IPO. Applying for an IPO multiple times using the same PAN Number will get your application rejected.

As in popular IPO's the allotment is done by lottery, it is recommended to apply through multiple demat accounts on family member's name. If you are a family of 4, you could open 4 demat accounts and 1 additional demat account on HUF name. Thus you can apply in IPO using 5 PAN Number.

SBI allows 5 IPO applications from one bank account. It means you could apply for IPO shares on all family member names using one single bank account.