
{"id":16184,"date":"2026-09-12T15:22:12","date_gmt":"2026-09-12T09:52:12","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=16184"},"modified":"2026-09-11T15:22:41","modified_gmt":"2026-09-11T09:52:41","slug":"ncd-ipo-minimum-investment-amount-and-lot-size-rules","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/","title":{"rendered":"NCD IPO Minimum investment amount and lot size rules"},"content":{"rendered":"<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">\ud83d\udcdd Quick Summary:<\/div>\n<h2 class=\"gpi-custom-widget-h2-content\"><span class=\"ez-toc-section\" id=\"An_NCD_is_a_non-convertible_debenture_a_bond_issued_by_a_company_through_a_public_issue_commonly_called_an_NCD_IPO_Every_NCD_IPO_sets_a_face_value_a_lot_size_and_a_minimum_application_amount_An_investor_cannot_apply_for_less_than_this_minimum_and_applications_above_it_must_move_in_fixed_multiples\"><\/span>An NCD is a non-convertible debenture, a bond issued by a company through a public issue, commonly called an NCD IPO. Every NCD IPO sets a face value, a lot size, and a minimum application amount. An investor cannot apply for less than this minimum, and applications above it must move in fixed multiples.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n\n\n<p>This article explains how the minimum investment for an NCD IPO is set, how lot size and application denomination work, and how the rules change once the NCD is listed and traded on the exchange. All content is educational and does not constitute investment advice.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/#An_NCD_is_a_non-convertible_debenture_a_bond_issued_by_a_company_through_a_public_issue_commonly_called_an_NCD_IPO_Every_NCD_IPO_sets_a_face_value_a_lot_size_and_a_minimum_application_amount_An_investor_cannot_apply_for_less_than_this_minimum_and_applications_above_it_must_move_in_fixed_multiples\" >An NCD is a non-convertible debenture, a bond issued by a company through a public issue, commonly called an NCD IPO. Every NCD IPO sets a face value, a lot size, and a minimum application amount. An investor cannot apply for less than this minimum, and applications above it must move in fixed multiples.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/#What_is_the_minimum_investment_for_an_NCD_IPO\" >What is the minimum investment for an NCD IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/#Understanding_face_value_lot_size_and_application_denomination\" >Understanding face value, lot size, and application denomination<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/#How_lot_size_rules_for_an_NCD_are_decided\" >How lot size rules for an NCD are decided<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/#How_the_minimum_investment_for_an_NCD_IPO_differs_from_an_equity_IPO\" >How the minimum investment for an NCD IPO differs from an equity IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/#Can_you_buy_an_NCD_without_a_demat_account\" >Can you buy an NCD without a demat account?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/#Does_the_minimum_investment_change_once_an_NCD_is_listed\" >Does the minimum investment change once an NCD is listed?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/#Minimum_investment_in_practice_A_typical_NCD_issues_terms\" >Minimum investment in practice: A typical NCD issue&#8217;s terms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/#Common_mistakes_investors_make_about_NCD_minimum_investment\" >Common mistakes investors make about NCD minimum investment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/#NCD_IPO_Investment_Frequently_asked_questions\" >NCD IPO Investment Frequently asked questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/bond-news\/ncd-ipo-minimum-investment-amount-and-lot-size-rules\/#Disclaimer\" >Disclaimer<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_minimum_investment_for_an_NCD_IPO\"><\/span><strong>What is the minimum investment for an NCD IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The minimum investment for an NCD IPO is the smallest amount an investor can apply for in that specific issue. Each NCD carries a face value, commonly \u20b91,000 per NCD in most public issues. The issuer also sets a minimum lot size, which is the smallest number of NCDs an investor must apply for. If the face value is \u20b91,000 and the minimum lot size is 10 NCDs, the minimum investment for that IPO works out to \u20b910,000. This figure is stated clearly in the prospectus of every NCD IPO, along with the specific face value and lot size for that issue.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Understanding_face_value_lot_size_and_application_denomination\"><\/span><strong>Understanding face value, lot size, and application denomination<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Face value is the price at which one unit of the NCD is issued before any market movement after listing. Lot size is the number of NCDs an investor must apply for as one unit. Application denomination refers to the multiples in which an investor can apply above the minimum lot. If the minimum lot is 10 NCDs, an investor can typically apply for 10, 20, 30 or any other multiple of 10, not for 15 or 22.<\/p>\n\n\n\n<p>These three terms work together to set the minimum investment. An investor checking a new NCD IPO should look for all three figures in the prospectus, since face value and lot size can differ from one issue to another.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_lot_size_rules_for_an_NCD_are_decided\"><\/span><strong>How lot size rules for an NCD are decided<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The issuer, along with the lead managers of the issue, decides the lot size for each NCD IPO. Many public NCD issues in India set the minimum lot at 10 NCDs. With a common face value of \u20b91,000, this results in a minimum investment of \u20b910,000 for many issues. Some issues use a different face value, such as \u20b9100, which changes the rupee amount needed even if the lot size stays the same.<\/p>\n\n\n\n<p>An investor should not assume that every NCD IPO uses the same minimum investment. The lot size and face value are specific to each issue and must be checked in that issue&#8217;s prospectus before applying.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Latest NCD IPO Update:<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 wp-block-latest-posts\"><li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-tranche-5-september-2026\/\" aria-label=\"Muthoot Fincorp Limited NCD IPO September 2026: Should You Invest? Interest Rates, Review, Dates &amp; Credit Rating\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Muthoot Fincorp Limited NCD IPO (1)\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1.jpg 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-tranche-5-september-2026\/\">Muthoot Fincorp Limited NCD IPO September 2026: Should You Invest? Interest Rates, Review, Dates &amp; Credit Rating<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/indel-money-limited-ncd-ipo-issue-details-returns-and-risks\/\" aria-label=\"Indel Money Limited NCD IPO: Issue Details, Returns, and Risks\"><img decoding=\"async\" width=\"1024\" height=\"486\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-1024x486.png\" class=\"attachment-large size-large wp-post-image\" alt=\"Indel Money NCD IPO\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-1024x486.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-300x142.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-768x364.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-1536x728.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-2048x971.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/indel-money-limited-ncd-ipo-issue-details-returns-and-risks\/\">Indel Money Limited NCD IPO: Issue Details, Returns, and Risks<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/paisalo-digital-limited-ncd-ipo-issue-details-returns-and-risks\/\" aria-label=\"Paisalo Digital Limited NCD IPO: Issue Details, Returns, and Risks\"><img decoding=\"async\" width=\"1024\" height=\"486\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-1024x486.png\" class=\"attachment-large size-large wp-post-image\" alt=\"Paisalo Digital NCD IPO\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-1024x486.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-300x142.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-768x364.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-1536x728.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-2048x971.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/paisalo-digital-limited-ncd-ipo-issue-details-returns-and-risks\/\">Paisalo Digital Limited NCD IPO: Issue Details, Returns, and Risks<\/a><\/li>\n<\/ul>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_the_minimum_investment_for_an_NCD_IPO_differs_from_an_equity_IPO\"><\/span><strong>How the minimum investment for an NCD IPO differs from an equity IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>An equity IPO and an NCD IPO both use a lot size system, but the reasoning differs. In an equity IPO, SEBI requires the lot to be sized so that the minimum application value falls within a band the regulator prescribes for retail investors. In an NCD IPO, the lot size is tied directly to the face value of the debenture, and the issuer sets it within the disclosure requirements for debt public issues.<\/p>\n\n\n\n<p>For an investor moving between the two markets, this means the minimum investment amount cannot be assumed to carry over from an equity IPO to an NCD IPO. Each product category follows its own rule, and the specific figure must be checked for each issue.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Can_you_buy_an_NCD_without_a_demat_account\"><\/span><strong>Can you buy an NCD without a demat account?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A demat account is required to apply for an NCD IPO. SEBI requires NCDs issued through a public issue to be allotted only in demat form, since physical certificates are no longer permitted for new debenture allotments. An investor without an existing demat account needs to open one before applying to any NCD IPO.<\/p>\n\n\n\n<p>This requirement applies at the time of application and allotment. It does not change based on the size of the investment. Even an investor applying for the minimum lot must hold a demat account to receive the NCDs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Does_the_minimum_investment_change_once_an_NCD_is_listed\"><\/span><strong>Does the minimum investment change once an NCD is listed?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Yes, the minimum investment amount changes once an NCD moves from the primary issue to the secondary market. During the IPO, an investor must apply for at least the minimum lot set by the issuer. Once the NCD is listed on the stock exchange, it can generally be bought and sold in single units, since exchange trading does not carry the same lot restriction as the original public issue.<\/p>\n\n\n\n<p>This difference matters for an investor with a smaller amount to invest. A platform offering listed NCDs in the secondary market can allow a purchase of a single NCD, at its prevailing market price, rather than requiring the original IPO lot size. The market price of a listed NCD can be above or below its face value, depending on interest rate movements and the remaining time to maturity.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Minimum_investment_in_practice_A_typical_NCD_issues_terms\"><\/span><strong>Minimum investment in practice: A typical NCD issue&#8217;s terms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A typical NCD public issue, structured on illustrative teaching terms rather than any live issue, states the following in its prospectus.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Face value: \u20b91,000 per NCD.<\/li>\n\n\n\n<li>Minimum lot size: 10 NCDs.<\/li>\n\n\n\n<li>Minimum investment amount: \u20b910,000, being 10 NCDs at \u20b91,000 face value.<\/li>\n\n\n\n<li>Application in multiples of 1 NCD above the minimum lot, once the minimum of 10 NCDs is met.<\/li>\n\n\n\n<li>Mode of allotment: demat only, credited to the investor&#8217;s demat account on allotment.<\/li>\n<\/ul>\n\n\n\n<p>An investor applying for exactly \u20b910,000 receives 10 NCDs at allotment. An investor applying for \u20b925,000 in such an issue would need to round to a permitted multiple, since the amount must translate into a whole number of NCDs at the stated face value and permitted increment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Common_mistakes_investors_make_about_NCD_minimum_investment\"><\/span><strong>Common mistakes investors make about NCD minimum investment<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A frequent mistake is assuming every NCD IPO has the same \u20b910,000 minimum. The actual minimum depends on the face value and lot size stated in that issue&#8217;s prospectus, and these can differ across issues. A second mistake is applying for an amount that does not divide evenly into the permitted lot multiple, which can lead to the application being rounded or rejected during processing. A third mistake is assuming the primary market minimum investment also applies to the secondary market. Once an NCD is listed, an investor can often buy a single unit at the prevailing market price, without needing to meet the original IPO lot size. A fourth mistake is applying without an active demat account, since allotment in an NCD IPO happens only in demat form.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCD_IPO_Investment_Frequently_asked_questions\"><\/span><strong>NCD IPO Investment Frequently asked questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1789118853038\"><strong class=\"schema-faq-question\">Q1. <strong>How much money is needed at minimum to apply for an NCD?<\/strong><\/strong> <p class=\"schema-faq-answer\">The minimum amount depends on the face value and lot size set for that specific NCD IPO. Many public NCD issues in India set this at \u20b910,000, based on a \u20b91,000 face value and a minimum lot of 10 NCDs, though this figure should always be confirmed in the prospectus of the issue.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1789118866470\"><strong class=\"schema-faq-question\">Q2. <strong>How much does an investor need to invest in an IPO at minimum?<\/strong><\/strong> <p class=\"schema-faq-answer\">For an equity IPO, SEBI requires the lot size to be set so the minimum application value falls within a specific band prescribed for retail investors. For an NCD IPO, the minimum amount instead depends on the face value and lot size the issuer sets for that debt issue, which is a separate calculation from an equity IPO.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1789118876444\"><strong class=\"schema-faq-question\">Q3. <strong>Does every NCD carry a minimum investment limit?<\/strong><\/strong> <p class=\"schema-faq-answer\">Yes, every NCD IPO carries a minimum investment limit, based on its face value and minimum lot size. This limit is specific to each issue and is stated in the prospectus, so it should be checked separately for every new NCD IPO.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1789118889675\"><strong class=\"schema-faq-question\">Q4. <strong>How much does an investor need to invest in an NCD once it is listed?<\/strong><\/strong> <p class=\"schema-faq-answer\">Once an NCD is listed on the stock exchange, it can generally be bought in single units at the prevailing market price, without needing to meet the original IPO lot size. This makes the minimum investment for a listed NCD typically lower than the minimum required during its original public issue.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1789118909700\"><strong class=\"schema-faq-question\">Q5. <strong>Is it possible to invest in an NCD with a smaller amount?<\/strong><\/strong> <p class=\"schema-faq-answer\">An investor with a smaller amount can often buy an NCD after it is listed, since secondary market purchases are not bound by the original IPO lot size. During the IPO itself, the investor must still meet the minimum lot set for that issue.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1789118926451\"><strong class=\"schema-faq-question\">Q6. <strong>Is a demat account necessary to purchase an NCD?<\/strong><\/strong> <p class=\"schema-faq-answer\">Yes. SEBI requires NCDs issued through a public issue to be allotted only in demat form. An investor needs an active demat account before applying to any NCD IPO.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1789118954136\"><strong class=\"schema-faq-question\">Q7. <strong>Is an investor allowed to exit an NCD before its maturity date?<\/strong><\/strong> <p class=\"schema-faq-answer\">An NCD listed on a stock exchange can generally be sold before maturity through the exchange at its prevailing market price. The ability to exit depends on the liquidity available for that specific NCD at the time, and the price received can be above or below its face value.<\/p> <\/div> <\/div>\n\n\n<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">Ready to Invest?<\/div>\n<div class=\"gpi-custom-widget-content\">\n<p>Visit <a href=\"https:\/\/goldenpi.com\/\">GoldenPi<\/a> to explore current bond options. Compare yields, ratings, and tenures in one place and invest online with as little as \u20b930,000.<\/p>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disclaimer\"><\/span>Disclaimer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities and municipal debt securities\/securitized debt instruments are subject to credit risks, market risks, and default risks, including delay and\/or default in payment. Read all the offer-related documents carefully. This blog\/article should not be construed as financial advice or as an offer or recommendation to buy or sell any security or any products\/services of\/on GoldenPi or any product\/services of its third-party client(s). For a detailed calculation of YTM, visit our website.&nbsp;<a href=\"https:\/\/delivery.goldenpi.com\/XPRBSN?id=162365=ch0GCFVXBVBUH1QDUlZXUlgBVgNSUwJVWgQGDFJQAVsEUwRfBldSBFVUAglRBFJSAA0ZBgxfQFBbERxBFSNTV10FU1cTDBgFDg5OAFIKVVFQBlZTVwQBBgFSAg0aC0BMQRIMFkwBUwoIFVdDHBwCCw1QAAsTWBpSVwgebDYxdmt\/Xl9dHxMF&amp;fl=WRVCSRBfGUkETltfVwNLAxVbCQwNWhpYVkpFGwMOBRcEWQMNUEoHSQJaV1BQAQQHTAZXA1IcAAMOBBxWB1IMFQUEVQxXXAEFBVQEUkpTVlMCUFEHU1JVAwhUAFECAQZaVFEADVAAVQBXVFRUUw==\" target=\"_blank\" rel=\"noreferrer noopener\">T&amp;C\u2019s Apply<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\ud83d\udcdd Quick Summary: An NCD is a non-convertible debenture, a bond issued by a company through a public issue, commonly called an&hellip;<\/p>\n","protected":false},"author":17,"featured_media":16187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[1026,25],"tags":[],"class_list":["post-16184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-guide","category-bond-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NCD IPO Minimum investment amount and lot size rules<\/title>\n<meta name=\"description\" content=\"Learn how NCD IPO minimum investment and lot sizes work in India. 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