Can NRIs apply for IPOs on FYERS?
Yes, Non-Resident Indians (NRIs) can apply for IPOs through FYERS—provided they have a compliant NRI trading account with FYERS and use an NRE or NRO bank account linked with UPI. The application must meet regulatory requirements set by SEBI and the issuing company.
Requirements for NRI IPO participation
- NRI account with FYERS: You must have an NRI trading and Demat account set up with FYERS.
- UPI with NRO/NRE account: The linked UPI ID must be associated with a valid NRE or NRO account.
- Eligibility per IPO: Not all IPOs allow NRI participation. Check the IPO prospectus or registrar's guidelines to confirm.
- Residential status declaration: Your FYERS account must reflect your correct residential status as NRI for compliance.
What if...
| Scenario | Explanation |
|---|
| Your UPI ID is not mapped to NRE/NRO | You won’t be able to complete the mandate—use a valid UPI from your NRI bank. |
| You hold a resident account with FYERS | You must convert your account to NRI before applying for IPOs. |
| The IPO restricts NRI participation | Your application will be rejected during registrar verification. |
| You apply via ASBA through bank | You may apply directly via net banking ASBA if not using FYERS IPO portal. |
Always verify if the IPO accepts NRI participation by reviewing the offer document or registrar instructions before applying—some IPOs explicitly restrict NRI bids.
Last updated: 11 Jun 2025
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