What will be the category of 'private family trust' for applying in IPO ?

A Private Family Trust can apply for IPO in the non-institutional (NII) category. A private family trust is used for succession planning. It saves the interest of legal heirs. The trustee of the private family trust can be relative, family member, or a professional team depending on the choice of the author. The author can also be one of the trustees or the managing trustee of the trust.