Can anyone invest in an IPO?

Anyone can invest in IPOs in India as long as they have a PAN number, demat and bank account. However, there are a few exceptions:

List of people who cannot apply in an IPO:

• Investors who do not have a PAN number, demat account and bank account.
• Foreign nations (individuals).
• QIBs who are not registered with SEBI.
• Individuals who are prohibited by law from investing, buying or trading shares in India.

The IPO prospectus contains more detailed information on who cannot apply for the respective IPO.

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