In the wake of December 2023, India's stock market has witnessed an unprecedented bull trend, with key indices like Nifty 50, BSE Sensex, and Bank Nifty reaching new heights. Nifty 50 and Sensex recently surged to remarkable levels of 21,000 and 70,000, respectively. The BSE Sensex alone has soared over 2,500 points in the last six sessions, rising from 67,481 to 70,057.
November 2023 stole the limelight in the primary market, with a lineup of IPOs that captured investor interest. Ten mainboard IPOs were listed, and the most-awaited Tata Technologies IPO led the pack with a staggering 140% gain. As the Indian stock market continues its attractive rally, NRIs are increasingly intrigued by the potential in IPO investments.
So, how can Non-Resident Indians participate in IPOs in India?
Non-Resident Indians can invest in IPOs, equity shares, bonds, and NCDs through a Non-PIS account (NRO or NRE savings account without PIS permission). While Indian companies decide whether to allow NRI participation, the process is simplified, with no special approval required from the RBI for NRI buy or sell transactions in IPO shares.
To embark on this investment journey, NRIs can utilize a 3-in-1 NRI Account, linking their Non-PIS savings bank account with a bank in India. With an NRI Demat account from stockbrokers like Zerodha, applying for IPO investments becomes seamless through the net banking services of the associated bank.
Unlock the potential of the Indian IPO market and make informed investment decisions.
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