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A verity of investors is qualified to invest in the NCD public issue. NCD investors are categories into 3 major categories:
Similar to IPO's, NCD has a reserved portion for each investor category. The number of NCD's reserved under each category varies by the NCD.
The NCD Category 1 Investors are Qualified Institutional Investors (QIB). The detail list of these investors is as below:
The NCD Category 2 Investors are Non-Institutional Investors (NII). The list of qualified NII is as below:
Note: In some NCD's the category 2 and category 3 are combined to make category 2.
The NCD Category 3 investors are Resident Indian individuals (RII) and Hindu Undivided Families (HUF) through the Karta who apply for aggregated value exceeding Rs 5 lakhs (or Rs 10 lakhs in some NCD's).
The NCD Category 4 investors are RII and HUF whose applications aggregating to a value, not more than Rs 5 lakhs (or Rs 10 lakhs in some NCD's).
Important Note
The definition of the category in an NCD public issue may differ by NCD to NCD. Please read the NCD IPO prospectus document before applying in an NCD to choose the correct category.
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