Can NRIs apply for IPOs in India?
Yes. Non-resident Indians can apply for most Indian IPOs, but the accounts are different from a resident's, and not every broker or bank supports NRI IPO applications.
What an NRI needs
A PAN, an NRE or NRO bank account in India, and an NRI demat and trading account linked to that bank account. Applying from an NRE account is on a repatriation basis (the money can be taken back abroad); from an NRO account it is non-repatriation.
How to apply
Through ASBA with net banking, if your bank offers IPO applications on NRE or NRO accounts, or through your broker with UPI where your bank supports UPI on the account. Check with your bank and broker before the IPO opens; this is where most NRI applications get stuck.
Category and limits
NRIs apply in the same categories as residents: retail up to ₹2 lakh, HNI above that. Some IPOs restrict or exclude non-resident applications, so read the eligibility section of the offer document.
Family members abroad
If a family member is an NRI, their IPO applications, allotments and profits can be tracked alongside everyone else's in IPO Khata, like any other family member.
Related guides
- Who can apply for an IPO: spouse, parents, minor, HUF
- Applying for an IPO through net banking (ASBA)
- Tax on IPO gains
More on applying for an ipo
- How to apply for an IPO in India
- Can family members apply for the same IPO separately?
- The IPO UPI mandate, explained
- What the cut-off price means in an IPO
- How to modify or cancel an IPO bid
- When to apply for an IPO
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Information, not investment advice. GMP is an unofficial grey-market indicator; figures come from public sources (InvestorGain) and may be late or wrong. Not registered with or affiliated to SEBI, the exchanges, the registrars or InvestorGain.