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An NRI IPO bidder can be a retail investor or non-institutional investor based on the total bidding amount.
As an NRI, if you want to bid for above Rs 2 lakh in an IPO, you can apply in the NII category. NRI as non-institutional investors can subscribe to the public issue through the ASBA-enabled net banking process only.
Under the ASBA process, eligible NRIs can bid for any IPO through net banking facility available on NRE or NRO bank accounts. The method allows all eligible NRI bidders to invest in an IPO online, and funds to the extent of an IPO bid will be blocked in the NRI bank account.
On successful allotment of shares, money will be debited from your bank account or unblocked. In case of partial allotment, amount will be debited up to the extent of IPO shares allotted to the applicant.
Zerodha Trade@20
