View all categories

How can an NRI apply for IPOs and rights issues?

The process for applying for an IPO as an NRI is as follows:

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? Clients with NRE demat accounts must apply for the IPO or rights issue only through the NRE bank account, not the NRO bank account.