NRI IPO Subscription Guide
Apply for Indian IPOs as an NRI — ASBA-only process, NRE/NRO repatriability, and upcoming IPO calendar
NRIs CANNOT use UPI for IPO applications
UPI-based ASBA is restricted to resident Indian bank accounts. NRIs must apply via physical ASBA at their bank branch. Online broker apps (Zerodha, Groww, Upstox) that use UPI for IPOs will NOT work for NRI accounts.
Your Application Setup
✓ Proceeds fully repatriable abroad
Retail ≤ ₹2,00,000 bid — cut-off price allowed
Mefcom Capital Markets Ltd
Open NowSMEFinancial Services · BSE
Repatriable
Yes (NRE)
Price Band
₹90 – ₹95
Lot Size
1200 shares
Min. Investment
₹1.1L
Registrar
Beeline Capital Advisors
SME IPO — NRIs can apply but check with bank for ASBA availability for SME exchange
ASBA Application Steps — NRE · Retail · Mefcom Capital Markets Ltd
- 1
Download the IPO application form from the NSE/BSE IPO page or your bank's website. Confirm your bank supports ASBA applications for NRI accounts.
- 2
Fill in your details: PAN card number, Demat account number (DP ID + Client ID), NRE bank account number and IFSC code, number of lots, and bid price. For Retail category, bid at the cut-off price to maximise allotment chances.
- 3
Submit the physical ASBA application form at the bank branch where your NRE account (repatriable) is held. The branch must be an ASBA-enabled branch (most major branches are). Do NOT apply via online platforms — NRIs cannot use UPI-based online ASBA.
- 4
The bank blocks the bid amount (lot size × bid price) in your NRE account. No interest is earned on blocked funds. The amount is NOT debited — only blocked.
- 5
On allotment date: If allotted, shares are credited to your Demat account; the exact allotment amount is debited and the balance unblocked. If not allotted, the full blocked amount is released. Process completes within 6 working days of close date. Shares bought via NRE account are fully repatriable.
How NRI IPO Applications Work
All IPOs
| IPO | Sector | Price band | Min invest | Status | NRI |
|---|---|---|---|---|---|
| Mefcom Capital Markets Ltd | Financial Services | ₹90–95 | ₹1.1L | Open Now | |
| Bharat Global Developers Ltd | Real Estate | ₹180–190 | ₹14,250 | Upcoming | |
| IndiQube Spaces Ltd | Managed Offices / Real Estate | ₹225–237 | ₹14,931 | Upcoming | |
| Ajanta Soya Ltd | FMCG / Edible Oils | ₹35–37 | ₹1.1L | Upcoming | |
| Nayara Energy Ltd | Oil & Gas / Refining | ₹420–444 | ₹14,652 | Upcoming | |
| Hexaware Technologies Ltd | IT Services | ₹674–708 | ₹14,868 | Listed | |
| Quadrant Future Tek Ltd | Defence / Cables | ₹275–290 | ₹14,500 | Listed | |
| Ather Energy Ltd | Electric Vehicles | ₹304–321 | ₹14,766 | Listed |
IPO data is manually updated. Check NSE/BSE for the latest listings and DRHP documents.
SEBI, NSE, and BSE have final say on IPO eligibility and allotment rules. Verify with your bank and broker before applying. This guide is for informational purposes — not investment advice.