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Can anyone invest in an IPO?

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Anyone can invest in IPOs in India as long as they have a PAN number, demat and bank account. However, there are a few exceptions:

List of people who cannot apply in an IPO:

  • Investors who do not have a PAN number, demat account and bank account.
  • Foreign nations (individuals).
  • QIBs who are not registered with SEBI.
  • Individuals who are prohibited by law from investing, buying or trading shares in India.

The IPO prospectus contains more detailed information on who cannot apply for the respective IPO.


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