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Say ‘Hi 👋’ on WhatsApp at 9555 555 555 & we’ll get back to you instantly

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View & track all your past and active service requests.

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Invest in Indian IPOs easily with your NRE funds through IDFC FIRST Bank

Invest in Indian IPOs Easily with your NRE Funds

Your gateway to Indian IPOs - from anywhere in the world

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Overview

Applying for Indian IPOs becomes easy and worry-free with IDFC FIRST Bank’s IPO through ASBA facility. Your money stays in your account until shares are allotted through a blocked account, so there’s no need to transfer funds upfront. Just place your IPO application online, track it effortlessly, and enjoy a secure, streamlined process from anywhere in the world. IPO through ASBA facility provides a simple, safe way for NRIs to invest in India’s growth stories with full control over their funds.

Using the Video-based Customer Identification Process (VCIP), you can now remotely complete your NRI KYC without the need for a physical branch visit. The VCIP is fully compliant with regulatory requirements as per RBI VCIP guidelines and ensures a seamless online video KYC based NRI account opening.

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Illustration explaining what ASBA (Application Supported by Blocked Amount) is

What Is ASBA?

If you’re exploring what is ASBA, it stands for Application Supported by Blocked Amount (ASBA). The ASBA process ensures NRIs can apply for IPO and in India’s primary market easily and in a secure manner. Your money simply stays in your NRI account with no need to pay upfront — it’s only debited if you get an allotment, so there’s no waiting for refunds. Even better the blocked amount keeps earing interest, and there are zero charges for applying.

Key Benefits for NRIs

Apply with mobile app or net banking icon

Apply with mobile app or net banking

Completely online and Perfect for NRIs who prefer convenience over paperwork or Branch Visits

Apply with mobile app or net banking
Available for NRE and NRO accounts icon

Available for NRE & NRO accounts

Whether your income sources are abroad or domestic, you can choose the account that suits your financial planning.

Available for NRE and NRO accounts
Earn interest on the blocked amount icon

Earn interest on the blocked amount

With ASBA, your IPO application amount isn’t debited upfront. Instead, it simply gets blocked in your account and continues to earn interest until allotment.

Earn interest on the blocked amount
Zero charges for ASBA application icon

Zero charges for ASBA application

You invest without paying any processing charges, making it a cost-effective way through which NRIs can apply for IPO

Zero charges for ASBA application
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Illustration of a company going public through an Initial Public Offering

What is Initial Public Offering (IPO)?

An Initial Public Offering (IPO) is the process through which a private company offers its shares to the public for the first time and becomes a publicly listed company on a stock exchange.

Eligibility for IPO
through ASBA

To apply for an IPO through ASBA as an NRI, you only need a few key requirements. These ensure a smooth, compliant, and fully digital ASBA process:

NRE or NRO bank account with IDFC FIRST Bank icon

An NRE or NRO Bank Account with IDFC FIRST Bank

This is the account for maintaining your blocked amount during the IPO application. NRE or NRO bank accounts are fully eligible, depending on whether you want repatriable or non-repatriable investments.

Demat account with a CDSL or NSDL depository participant icon

Demat Account with a CDSL or NSDL depository participant

Your allotted shares will be directly credited to this demat account, making the investment process seamless and paper-free.

Updated PAN details icon

Updated PAN details

A valid PAN is mandatory for all IPO applicants. Ensuring your PAN is updated helps the bank and registrar verify your identity quickly and process your application without delays.

NRI checking IPO ASBA eligibility requirements

Features of IPO ASBA for NRIs

ASBA (Application Supported by Blocked Amount) makes IPO investing smoother and more convenient for NRIs, especially when managing investments from overseas. It removes payment hassles, adds transparency, and ensures your funds remain fully in your control throughout the process.

No upfront payment required icon

No upfront payment required

The IPO application blocked amount is not debited immediately. Instead, it simply stays blocked in your NRE or NRO bank account until shares are allotted under the ASBA application.

Access IPOs globally—invest anytime, anywhere icon

Access IPOs globally—invest anytime, anywhere

Whether you're in the UAE, UK, US, Singapore, or anywhere else, ASBA allows you to apply for Indian IPOs through your bank’s digital channels. All you need is internet access—no physical forms or visits required.

Securities delivered to any of your demat accounts icon

Securities delivered to any of your demat accounts

After a successful allotment, the shares are directly credited to your demat account—be it NRE or NRO linked—making the post-allotment process completely seamless and fully compliant with regulations.

Secure and seamless experience for NRIs icon

Secure and seamless experience for NRIs

IPO through ASBA ensures your money stays safe in your own bank account until allotment. The process is digital, transparent, and backed by your bank’s security framework, offering a smooth investing journey for NRIs across the world.

Apply for IPO

Through Net Banking or Mobile App

  • 1

    Log in to Net Banking/ Mobile app

    Use your secure credentials to access your NRE or NRO bank account online.

  • 2

    Go to Accounts > All Investments

    This section gives you a consolidated view of available investment options, including IPOs.

  • 3

    Invest into ASBA

    You will see a list of ongoing IPOs open for subscription.

  • 4

    Choose the IPO

    Select the IPO, review details, and enter your bid quantity and price (cut‑off or within the price band).

  • 5

    Confirm and Submit

    Your application amount will be blocked while continuing to earn interest, and you’ll receive an SMS/Email once your application is successfully submitted.

Log into NetBanking

Through Branch Visit - If you prefer submitting your ASBA form in person:

  • 1

    Visit Us

    Visit your nearest IDFC FIRST Bank branch.

  • 2

    Ask for the Form

    Request the IPO ASBA application form

  • 3

    Add your information

    Fill in your details, PAN, demat information, and bid

  • 4

    Complete the application

    Submit the form to the branch executive to complete the ASBA process.

  • 5

    Receive confirmation

    After application your blocked amount will be untouched, and you will receive an acknowledgment slip.

Branch Locator
How to open a Global Savings account with your Relationship Manager

How to open a Global Savings account?

Kindly get in touch with your Relationship Manager (RM) for opening an account.

Contact your RM Open Account
Documents required to open a Global Savings account

Documents Required to Open a Global Savings Account

Only AOF is required.

Interest Rates and Charges

The FIRST Global Savings Account offers a highly competitive interest rate along with transparent fee structures to suit your global banking needs.

Particulars Details
Interest Rate 4.75% per annum
Average Monthly Balance Requirement Zero
ATM/Debit Card Issuance Complimentary
Fund Transfer Charges (International) Zero
Account Maintenance Charges Zero

Note: All rates and charges are subject to change as per the Bank’s discretion and applicable regulations.

How to open a fixed deposit
under GIFT City?

Getting started is quick and seamless:

  • 1

    Reach out to your relationship manager or your nearest IDFC FIRST Bank branch

  • 2

    Complete the application form and Know Your Customer (KYC) documentation

  • 3

    Choose your currency, investment amount, and tenure.

  • 4

    Submit the remittance through eligible Non-Resident External (NRE)/ Foreign Currency Non-Resident (FCNR) accounts

  • 5

    Receive FD confirmation with terms and interest details.

Your GIFT City Fixed Deposit can now be booked through the mobile banking app too.

What currencies can I hold in this account?

You can hold deposits in major foreign currencies in your FIRST Global Savings Account. The supported currencies currently include:

US Dollar (USD) currency icon

US Dollar (USD)

Euro (EUR) currency icon

Euro (EUR)

These options enable you to manage your global income without worrying about exchange rate conversions.

Learn how to
manage your finances

How NRI FD accounts work and how they can build your wealth

How NRI FD accounts work and how they can build your wealth

29 Sep 2025 | 3 mins read

Read More
Step-by-step guide to opening an NRE Savings Account in India

Step-by-step guide to opening an NRE Savings Account in India

30 May 2025 | 3 mins read

Read More
How to maximise money-saving potential with NRI banking products

How to maximise money-saving potential with NRI banking products

7 May 2025 | 3 mins read

Read More
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Frequently asked questions

Can I Invest into IPO if I don’t have IDFC FIRST Bank demat account

Yes, NRIs can apply for IPO using an NRE or NRO bank account even if you do not have IDFC FIRST Bank demat account.

The joining fee of ₹2,500 (+GST) will be levied instantly on card generation. You can pay for the fee before or after statement generation.

On payment of joining fee, you will receive cashback of ₹400 for each of any 5 transactions worth ₹400 or more, completed using your credit card within 60 days of card generation. The joining benefit will be credited in the next statement. Cash withdrawal transactions, fees and charges will not be eligible for the joining benefit.

If you are applying for your first IDFC FIRST Bank unsecured credit card, you will get a credit limit as per our internal policies. If you already have an IDFC FIRST Bank unsecured credit card, your new credit card will also have the same credit limit. The credit limit, however, will be shared across all unsecured credit cards.

Yes. You will earn:

  1. 10 reward points for incremental spends above ₹20,000 in a statement cycle and on your birthday.
  2. 5 reward points on spends up to ₹20,000 in a statement cycle.
  3. 3 reward points on Education, Wallet Load, Government, Rent and Property Management/Purchase transactions. 1 reward point on utilities and insurance transactions. Spends in these categories will not be considered for the 10X monthly milestone.
  4. Reward points will not be given on spends converted to EMI, Cash Withdrawal, Fuel, Fee and Charges.
  5. 1 reward point is given for every ₹150 spent in a transaction. Value of 1 reward point is ₹0.25.

Education, Wallet Load, Government, Rent and Property Management/Purchase transactions, Utilities, Insurance, EMI, Cash Withdrawal, Fuel, Fee and Charges. Only those transactions which are settled by the merchant before the statement generation will be considered. If a transaction is settled after the statement is generated, it will not accrue 10X rewards. Rewards for such transactions will be credited after the next statement generation.

The Ashva Credit Card provides the benefit of never-expiring reward points. The reward points remain valid till the credit card remains active.

The Ashva Credit Card comes loaded with benefits like discounts on 300+ brands, movie tickets, complimentary airport lounge access, etc. The full list of benefits is mentioned above. For brand offers, you can visit the offers website

The Ashva Credit Card offers one of the lowest forex markups in the industry at just 1%. Spend seamlessly while travelling abroad as well as on international purchases made from India.

Yes, Ashva Credit Card offers:

  1. 4 complimentary visits per quarter to lounges and spas at airport terminals in India.
  2. 2 complimentary visits per quarter to lounges at foreign airports

The lounge benefit can be availed in the next calendar month on spending ₹20,000 or more in the current calendar month.

Use your credit card to access Indian airport lounges and the Dreamfolks Card to access spas and lounges at Indian and overseas airport terminals.

You can also book airport lounge and spa by clicking here.

You can activate your 1 Lounge/Spa benefit for the next calendar month by spending ₹20,000 or more in the current calendar month.
E.g. Meet spend criteria between 1st to 31st March to activate the benefit in April. To know how to book an airport lounge online, click here.

Yes. You can avail up to 2 rounds/lessons in a month. Each round/lesson is unlocked for every ₹20,000 spent in the previous statement cycle.

Yes, you can! All ATM cash withdrawals are interest-free for up to 48 days – in India or abroad. Cash withdrawal from ATMs outside India will attract a forex markup fee of 1% (+GST). Please keep in mind, however, that a Cash Advance Fee of ₹199/- + GST is applicable per transaction, irrespective of your location or the withdrawal amount. The maximum cash withdrawal limit per transaction is ₹10,000.

For transactions in India, yes, you will be asked for a PIN for completing the transactions. However, outside India, you will be asked for the PIN only if the POS terminal is enabled for PIN authentication.

On spending ₹8,00,000 or more in a card anniversary year, you will get 7,500 reward points. The reward points will be credited on payment of annual fee for the next year. Transactions on primary, add-on and associated FIRST Digital (UPI) Credit Card will be considered towards the milestone, including EMI transactions. Cash withdrawal, fee charges and EMI amortization will be excluded from the benefit.

The reward points will get credited upon statement generation.

Using the Ashva Credit Card, you get buy-one-get-one movie offer twice a month via Paytm Movies. You can get a discount of up to ₹400 on the second ticket.

On spending ₹8,00,000 or more in a card anniversary year, you will get 7,500 reward points. The reward points will be credited on payment of annual fee for the next year. Transactions on primary, add-on and associated FIRST Digital (UPI) Credit Card will be considered towards the milestone, including EMI transactions. Cash withdrawal, fee charges and EMI amortization will be excluded from the benefit.

The reward points will get credited upon statement generation.

Using the Ashva Credit Card, you get buy-one-get-one movie offer twice a month via Paytm Movies. You can get a discount of up to ₹400 on the second ticket.

On spending ₹8,00,000 or more in a card anniversary year, you will get 7,500 reward points. The reward points will be credited on payment of annual fee for the next year. Transactions on primary, add-on and associated FIRST Digital (UPI) Credit Card will be considered towards the milestone, including EMI transactions. Cash withdrawal, fee charges and EMI amortization will be excluded from the benefit.

The reward points will get credited upon statement generation.

Using the Ashva Credit Card, you get buy-one-get-one movie offer twice a month via Paytm Movies. You can get a discount of up to ₹400 on the second ticket.

On spending ₹8,00,000 or more in a card anniversary year, you will get 7,500 reward points. The reward points will be credited on payment of annual fee for the next year. Transactions on primary, add-on and associated FIRST Digital (UPI) Credit Card will be considered towards the milestone, including EMI transactions. Cash withdrawal, fee charges and EMI amortization will be excluded from the benefit.

The reward points will get credited upon statement generation.

Using the Ashva Credit Card, you get buy-one-get-one movie offer twice a month via Paytm Movies. You can get a discount of up to ₹400 on the second ticket.

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