NRI Investors
NRI IPO Application Guide
How Non-Resident Indians can apply for IPOs in India.
NRIs Can Apply
- ✓Retail category (up to Rs.2 lakh)
- ✓HNI/NII category (above Rs.2 lakh)
- ✓Using NRE (repatriable) funds
- ✓Using NRO (non-repatriable) funds
- ✓Through ASBA at Indian bank branches
Restrictions for NRIs
- !Cannot apply via UPI — only ASBA at bank
- !Some IPOs restrict NRI participation
- !US/Canada NRIs face additional compliance
- !NRE-based gains are freely repatriable
- !NRO-based gains have repatriation limits
Step-by-Step Application Process
01
Open NRE/NRO Demat Account
NRIs need an NRE (repatriable) or NRO (non-repatriable) Demat account linked to an Indian bank account. Most major brokers offer NRI accounts.
02
Link NRE/NRO Bank Account
Your Demat account must be linked to an NRE or NRO savings account. This is used for ASBA-based IPO applications.
03
Apply via ASBA (NRI)
NRIs can apply using the ASBA facility at their Indian bank branch or through supported broker platforms. UPI-based application is not available for NRIs.
04
Bid at Cut-off or Price
NRIs can bid at the cut-off price or any price within the issue price band. Retail NRI limit is Rs.2 lakh per application.
05
Allotment and Refund
If allotted, shares credit to your NRI Demat. If not allotted, funds are unblocked from your NRE/NRO account automatically.