Can NRIs Apply for IPOs on FYERS?
Yes, Non-Resident Indians (NRIs) can apply for IPOs through FYERS, subject to regulatory requirements and eligibility criteria. To do so, you must hold a compliant NRI trading and Demat account with FYERS and apply using a UPI ID linked to an NRE or NRO bank account.
Requirements for NRI IPO participation
- NRI account with FYERS: You must have an active NRI trading and Demat account with FYERS.
- NRE/NRO UPI linkage: The UPI ID used for IPO applications must be mapped to a valid NRE or NRO bank account.
- IPO-specific eligibility: Not all IPOs permit NRI participation. Check the IPO prospectus or registrar guidelines for restrictions.
- Correct residential status: Your FYERS account must reflect your NRI status for compliance with SEBI regulations.
Steps to apply for IPO as an NRI
Always review the IPO prospectus or registrar’s instructions to confirm NRI participation before applying.
What If…
| Scenario | Solution |
|---|
| Your UPI ID is not mapped to NRE/NRO | The mandate request will fail. Use a valid UPI from your NRI bank account. |
| You hold a resident account with FYERS | You must convert it to an NRI account before applying for IPOs. |
| The IPO restricts NRI participation | Your application will be rejected during registrar verification. |
| You apply via ASBA through your bank | You may apply directly using your bank’s net banking ASBA option if not applying via FYERS. |
Last updated: 12 Nov 2025
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