How can an NRI apply for an IPO?

An NRI can apply for an IPO online or offline through eligible banks, brokers, or intermediaries.

Steps to apply:

• Open an NRE/NRO Account, NRI Demat Account, and NRI Trading Account.
• Select the IPO and review the offer document.
• Submit the IPO application through ASBA-enabled net banking, broker platform, mobile app, or physical form.
• Enter the bid details and authorize fund blocking.
• Wait for allotment finalization.
• Shares, if allotted, are credited to the NRI Demat Account; otherwise, the blocked funds are released.

NRI IPO applications can be made on both repatriation and non-repatriation basis, subject to the terms of the offer document.