How to buy NCD in India?

Non-convertible debentures can be bought either through the primary market by applying to the NCD IPO or through the secondary market.

The NCD IPO application can be made offline or online through the ASBA mechanism. Retail investors can apply through the UPI mechanism. In the offline process, the investor has to submit the duly filled physical copy of the NCD application form to the nearest intermediary.

In the case of an online application for an NCD IPO, the investor has to enter the NCD details, DP details and payment details online. Not every intermediary allows online applications for NCD IPOs, so you should check with your broker/bank for the online facility.

To buy an NCD in the secondary market, the investor needs to place a buy order through the broker's trading platform, provided the broker offers online trading of NCDs. The investor must search for the desired NCD instrument on the broker's platform and place the order for the desired quantity at the desired price. If the matching order is found, it will be executed.