Hi, This is my first post and am new to investing so please excuse if this sounds n00b.
I am an NRI and would like to apply for Reliance Power IPO in the HNI category. Can someone pls explain (or tell me where I can find this information) on
a) if I don't have a NRE (NonPINS) bank a/c and demat a/c yet could I use a relative's a/c for application to this IPO?
b) If 25 L INR is the minimum amt under HNI category, does it mean that allocation is gaurenteed for this amt?
c) What is process for applying under HNI category? What amt shuld be paid up-front and how? Can funds be transferred from overseas bank a/c to Indian a/c to pay for ipo? OR do I need RBI/other clearences?
d) Do I need to regisger with a broker or should I set-up an on-line trading a/c e.g. icicidirect or sharekhan or... (any recomendations?)
e) It is advisable to buy in this ratio - Rs. 40 L (Reliance Power) and Rs. 12 L (Reliance Energy) and leave this alone for a year or so? What do you folks think is going to happen in 1 year???
f) Any other recommendations to take delivery and keep accumulating? It this the right time to "enter" the market or shuld I wait till early next year?
f) Any other adivice to a novice would be greatly appreciated.
Many thanks in advance for your time.
I am an NRI and would like to apply for Reliance Power IPO in the HNI category. Can someone pls explain (or tell me where I can find this information) on
a) if I don't have a NRE (NonPINS) bank a/c and demat a/c yet could I use a relative's a/c for application to this IPO?
b) If 25 L INR is the minimum amt under HNI category, does it mean that allocation is gaurenteed for this amt?
c) What is process for applying under HNI category? What amt shuld be paid up-front and how? Can funds be transferred from overseas bank a/c to Indian a/c to pay for ipo? OR do I need RBI/other clearences?
d) Do I need to regisger with a broker or should I set-up an on-line trading a/c e.g. icicidirect or sharekhan or... (any recomendations?)
e) It is advisable to buy in this ratio - Rs. 40 L (Reliance Power) and Rs. 12 L (Reliance Energy) and leave this alone for a year or so? What do you folks think is going to happen in 1 year???
f) Any other recommendations to take delivery and keep accumulating? It this the right time to "enter" the market or shuld I wait till early next year?
f) Any other adivice to a novice would be greatly appreciated.
Many thanks in advance for your time.