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.
Always review the IPO prospectus or registrar’s instructions to confirm NRI participation before applying.
What If…
| Scenario | Explanation |
|---|
| 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: 22 Sep 2025
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