@Rax Check with your family, inlaws and friends if they give you consent for sharing their demat accounts and bank accounts.
Second option is to consider opening HUF and Minor account for your kid to give you two more additional IPO application accounts.
Third option is to apply in IPOs where shareholder quota is offered, thereby you can have two applications for each PAN
Fourth option (though not recommended) is to consult a member here who claims to apply 100 plus applications.
One more option is to be contended with whatever account you have at present and look for opportunities post listing or buy low sell high opportunities in secondary markets.