How can an NRI apply for IPOs and rights issues?
The process for applying for an IPO as an NRI is as follows:
- UPI: If the NRE or NRO bank account supports UPI transfers, then clients can apply for IPOs through Kite. To learn how, see How to apply for an IPO, and how to stay informed of new ones?
- ASBA: NRIs can also apply using Application Supported by Blocked Amount (ASBA). To learn how, see Is it possible to apply for an IPO without using UPI?
The process for applying for a rights issue is the same for NRIs and residents. To learn how to apply for a rights issue, see How to apply for a rights issue?
Once the IPO or rights issue is allotted, PIS account holders must create a ticket with the following:
- Annexure: This table explains the annexure needed for NRE and NRO PIS accounts:
| NRE PIS | NRO PIS |
| HDFC Bank (PDF) | HDFC Bank (PDF) |
| IndusInd Bank (PDF) | IndusInd Bank (PDF) |
| IDFC FIRST Bank (PDF) | IDFC FIRST Bank (PDF) |
| Yes Bank (PDF) | Yes Bank (PDF) |
| Axis Bank (PDF) | Axis Bank (PDF) |
- Bank statement showing the debit transaction for the IPO or rights issue.
These documents are submitted to the bank to update the PIS ledger to ensure there is no delay in the trade settlement.
Did you know?
- NRIs can apply for IPOs from either their NRE or NRO accounts and not from both since the same PAN is linked to both accounts.
-
Clients with NRE demat accounts must apply for the IPO or rights issue only through the NRE bank account, not the NRO bank account.
Still need help?
×
![]()