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Unlock the potential of Bond IPOs and invest online in minutes!

No KYC Required

Pay via UPI

Invest as low as 10k

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How online Bond IPO works?
CURRENT IPOs
Earn 3.25 over FDs
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Indiabulls Housing Finance Limited
NANA
Rating
₹10,000
Minimum Investment
10.75% p.a.*
Earn Interst upto
27 May, 2024
Close Date
Earn 2.34% over FDs
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360 One Prime Limited
CRISILAA / Stable
Rating
₹10,000
Minimum Investment
9.84% p.a.*
Earn Interst upto
06 Jun, 2024
Close Date
Who can Invest in Bond Public Issues?

Following categories of investors are eligible for investing in Bond Public Issue

Category III

High Net-worth Individuals

Invest more than INR 10 Lakhs across all options

Resident Indian Individuals

Category IV

Retail Individual Investors

Invest less than or equal to INR 10 Lakhs across all options

Resident Indian Individuals

How to buy IPO with Smest?
Select investor type & investor categorySelect series you want to invest in and add how much you want to investAdd Details (Applicant)Submit and Preview formConfirm and Print0102
Information required for KYC
PAN Card
Aadhaar Card
Demat Account Proof
Bank Account Details (ASBA | UPI ID)

Please Note: Only UPI mode available for investment per application upto INR 5 Lakhs by individual and HUF. Investment upto INR 9.99 lakhs can be made via UPI through maximum 5 application for each investor(based on first holder PAN)

FREQUENTLY ASKED QUESTIONS

Apply online in few simple steps | Pay via UPI | Minimum investment is ₹10,000 only.

Non-Convertible Debentures (NCDs) are debt securities issued by corporations. NCDs come with a fixed interest rate; hence investors get fixed income. And on maturity, the principal amount is paid back to the investor. You can invest in NCDs in the secondary market; else, you need to participate in the IPO in the Primary Market. The advantage of investing via IPO is that you get NCDs at face value, and the minimum investment is ₹10,000 only.

Retail investors can apply for an IPO both ways – online or offline. The investor has to physically submit the application and cheque in offline mode, which is very time-consuming. If the investment amount is less than or equal to 10 lakhs, you can participate in NCD-IPO online and pay via UPI. UPI integration reduces manual interventions at many stages hence applying via UPI is more reliable.

Note:
Bonds and Debentures are both Debt Securities offering fixed returns. Both Bonds and Debentures behave in the same way. Generally, Bonds and Debentures are collectively addressed as “Bonds”.


SMEST is the first Fintech company that enables investors to invest in NCD-IPOs via UPI. You can participate in NCD IPOs online with few clicks.

UPI stands for Unified Payment Interface. UPI is an instant real-time payment system facilitating interbank transactions. It is developed by the National Payments Corporation of India and regulated by the RBI. UPI ID is a unique address that identifies you in the UPI system.

UPI ID is a unique address that identifies you in the UPI system.
The typical format of UPI ID- customername@UPIhandle
Example- shreya@kotak

You can find the UPI handle in your profile present in the UPI app. For a few of the apps, here we have mentioned the steps to find the UPI handles:

Google Pay App

  • Open the Google Pay app.

  • You can open your Profile page by tapping on the Profile Icon present in the top right corner.

  • You can see Google Pay UPI ID.

Paytm App

  • Open the Paytm App

  • Swipe from the left to open the menu.

  • First, Select Profile, then select settings.

  • If you tap on Saved Payment Details, you can view the UPI ID.

BHIM App

  • Open the BHIM App.

  • From the bottom menu, select Profile.

  • In your Profile, you can see the UPI ID along with a QR code.

You need to download the UPI app of your choice. Once you complete KYC on the app, the UPI handle will be generated. Open your profile in the UPI app. You can see the UPI handle in the profile.

The National Payments Corporation of India has permitted 18 UPI apps for IPO. Here is the list of those 18 apps and their handles.

Permitted UPI Apps for IPO
UPI Handle
BHIM Baroda Pay (Only Android)
@BARODAMPAY
BHIM RBL Pay (Android & iOS)
@rbl
BHIM (Android & iOS)
@upi
BHIM PayWiz (Android)
@idbi
BHIM ALLBANK UPI (only Android)
@allbank
BHIM AUPay (Android & iOS)
@aubank
BHIM Axis Pay (only Android)
@axisbank
BHIM BANDHAN UPI (Android & iOS)
@bandhan
BHIM DLB UPI (Android & iOS)
@dlb
BHIM IndusPay (only Android)
@indus
BHIM KBL UPI (Android)
@kbl
BHIM Lotza UPI (only Android)
@federal
BHIM SBIPay (only Android)
@sbi
BHIM UCO UPI (Android and iOS both)
@uco
BHIM YES PAY (only Android)
@yesbank
Citi Mobile (Android & iOS)
@citi & @citigold
DhanSmart (Android & iOS)
@dlb
DigiBank - DBS (Android & iOS)
@dbs
Freecharge (Android & iOS)
@freecharge
Google Pay (Android & iOS)
@okhdfcbank, @okaxis, @oksbi & @okicici
Groww Pay (Android & iOS)
@yesg
HSBC Simply Pay (Android & iOS)
@hsbc
iMobileby ICICI Bank (only Android)
@icici
IndOASIS (Android and iOS both)
@indianbank, @allbank
Kotak Mobile Banking App (only Android)
@kotak
MobiK wik ( Android & iOS)
@ikwik
Nxt – Union Bank of India ( iOS and Android )
@unionbankofindia, @uboi and @unionbank
Phone-Pe (Android & iOS)
@ybl, @axl, @ibl
SIB Mirror+ (only Android)
@sib
YES Pay Next (android & iOS)
@yespay
Paytm (Android and iOS)
@paytm

To View the updated list of Mobile Applications for using UPI in Debt Public Issues, please click here

Once you submit your IPO application, your Bank will send you an SMS requesting approval of the payment via UPI. You can go to the respective UPI app and approve the payment. By approving the payment, you are accepting the mandate.

After you subscribe to an IPO, ASBA blocks the application amount in your bank account. In the case your IPO application gets rejected, the amount will be released within 1 or 2 working days.

There could be various reasons for the rejection of your IPO applications. A few of the probable causes are listed here.

  • The applicant gives an invalid or incorrect DP ID / Client ID

  • The PAN given in the IPO application is not matching with the PAN associated with the given Demat account.

  • The given Demat account number is wrong.

  • The given Demat account is inactive.

  • If the Demat account is not accessed for a long time, the Demat account becomes Dormant. The maximum duration Demat account can remain unused before it becomes dormant will be mentioned in an agreement made with DP. By paying reactivation fees to your DP, the Demat account can be reactivated.

  • If the UPI mandate is not accepted within 48 hours of placing the application

  • The given UPI handle is invalid

Once the securities are allotted in an IPO, investors will be informed via email and SMS. To check allotment status, investors can visit the registrar’s website or BSE/NSE website. By providing your application number and PAN, you can check the allotment status.
If you have applied for an IPO via SMEST, you can check your allotment status on our platform in the IPO order page under Order History.

National Payments Corporation of India (NPCI) has set a transaction limit of 5,00,000 in the UPI-based payments on the instant inter-bank fund transfer mechanism. Hence, you can't invest more than RS. 5,00,000. However, if you want to invest INR 10 lakhs, you can simply submit two IPO applications online.

Minor can open a Demat account. Guardian can operate the minor’s Demat account and participate in bond IPO. Father is the first guardian; in the absence of the father, the mother becomes the guardian. In the absence of both of the parents, legal guardians can operate the minor's Demat account. Once a minor's Demat account is accessible, the guardian can apply for an IPO like any other participant.

Yes, you can update your mobile number and email id by contacting the Relationship Manager. However, you need to update your contact details before you apply for IPO or after IPO allotment is done.

There are no charges to apply for a Bond IPO via SMEST.

You can find your DP ID and Client ID in the profile section of your broking account. If your DEMAT is with CDSL, both the DP ID and Client ID will be eight digits each. Example: If 5618756495267445 is the Demat number/ID, then DP ID is 56187564 and Client ID 95267445. If your DEMAT is with NSDL - both DP ID and Client ID will be of 8 characters each where the starting characters are ‘IN,’ and the following characters will be numeric. Example: If IN12345612345678 is the Demat number/ID, then DP ID is IN123456 and Client ID 12345678. Alternately, you will find your DP ID and Client ID in your E-CAS statements that are sent to your email id associated with your broking account.

ASBA stands for Application Supported by Blocked Amount. It is an application authorizing the bank to block the money equivalent to the application size. If the application is selected for allotment, an amount equivalent to the allotted issues will be debited from the investor’s bank account. In the case of partial allotment, the amount corresponding to the allotment will be debited from your account, and the rest will be unblocked.

When you cancel your IPO application, all bids in the application will be canceled. However, you can apply again on or before the closing date.

When you cancel the IPO application after funds are blocked by ASBA, your fund will be released within 48 hours of the allotment. In case the fund is not released, you can write to care@smest.in for guidance.

No. NRIs are not eligible to invest in NCD public Issues.

Bond IPOs generally have a maturity period starting 2 years and could extend upto 10 years. Investors have the option to invest in the preferred issue series that have a maturity period and coupon suiting their investment objectives. However, while investors cannot withdraw their investments directly from the issuer, these bonds can be traded in the secondary markets via stock exchanges similar to equity and can be exited prior to maturity or can contact your Relationship Manager at SMEST.

Interest earned through Bond IPOs is subject to TDS. However, the interest earned is taxed as per your marginal rate of taxation. Apart from this, capital gains come into picture depending on when you sell your investments. If you hold your investments until maturity, there is no capital gains that is accrued. To understand the detailed effect of taxation, it’s advised to consult your financial advisor or tax consultant prior to investing.

If you have any inquiries please get in touch with our Customer support at SMEST Call us on 8879966072 or email us at care@smest.in

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SMEST CAPITAL PRIVATE LIMITED
Democratizing the Fixed Income Market in India.
5, Prabhat Kunj, 24th Road, Khar W, Mumbai 400 052
SEBI Registration Number: INZ000302039
BSE Member Code 6764
care@smest.in | +918879966072
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Note to investors:
SMEST CAPITAL PRIVATE LIMITED is a SEBI registered broker under BSE new debt segment allowing investors to trade in secondary bonds & debentures through exchange. SMEST is a start up with a mission to digitize the functions of the Debt Market and educate retail investors to encourage participation.
Investments in fixed income securities are subject to market risk, read all the offer related documents carefully before investing.

The content displayed on the website should not be interpreted as financial advice, an offer, or a suggestion to buy or sell any securities, products or services offered by SMEST or any other products or services of its third-party clients. The user should only act and depend on the data/information displayed on the website after fully comprehending all associated risk parameters. The user is solely responsible for any action or decision they make based on the information displayed on this website. Any damages, whether direct, indirect, special, or consequential, including lost revenue or lost profits, that the user may incur as a result of or in connection with the use of the information/data shown on this website SMEST and its directors, employees, associates, representatives, or agents are not liable for any damages.
We understand that some financial advisors may approach members of the public, including our clients, and claim to be our partners or to base their investment recommendations on our research. Please take note that neither we nor any third parties that we have contracted with are offering any stock recommendations, tips, research reports, or advice on our behalf. People who invest based on this advice run the risk of losing both the money they paid these unethical people and all or a portion of their investment. Please use caution if you ever receive a call purporting to be from an investing advisor or a member of a research firm offering advice on investments. Paying through WhatsApp, SMS, or email links is not recommended. Please refrain from disclosing your financial or personal details to anyone without proper validation. Trade exclusively through a registered broker.
Your contact information is only collected, stored, and used by us for proper business objectives, such as contacting you and giving you the most recent information about our products & services.
There are no related parties and hence there are no conflicts of interest arising out of any transactions.



Filing complaints on SCORES - Easy & Quick:
  • Register on SCORES portal
  • Mandatory details for filing complaint on SCORES
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    2. Pan card
    3. Address
    4. Mobile number
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  • Benefits
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    2. Quick resolution of the grievances

About SMEST
SMEST CAPITAL PRIVATE LIMITED is India's leading Fintech firm, enabling individual investors to invest in Bonds and Debentures online. Bonds are regarded as a reliable form of secondary income, and in some situations, primary income, but over the years, their accessibility has been limited to financial institutions and high-net-worth individuals (HNIs). With SMEST, we are dedicated to making Bonds and Debentures publicly accessible to all retail investors. Through our user-friendly online platform, investors can use this investing opportunity with efficiency.
Let us talk about investing bonds and debentures! First and foremost, what is investing? Investing is the process of purchasing assets with the intention of increasing their value over time and providing returns in the form of income payments or capital gains.
As an individual, what justifies your need to invest?
The amount of money you can make by working is virtually always limited. There is just so much money you can put in your firm, how many hours you can work every week, and how much salary raises you can receive. While your income is rather stable, the same cannot be true for your expenses. As you become older, your responsibilities grow, and so does your demand for money. Everything costs money, from purchasing a house to ensuring your children receive the greatest education, from paying for medical crises to planning your retirement, and more. Investing makes sense for this very reason. Investing not only ensures that you have a backup source of income on which to rely, but it also pushes you to set aside a quantity of money on a monthly basis, guaranteeing that you learn financial discipline in the long run!
What Kinds of Investments that you can invest in?
While there are numerous investing options available to you, they may generally be divided into two groups: active investments and passive investments. The former, as the names suggest, demands you to be on the lead, have thorough understanding of market dynamics, and put in time and effort towards the investment; the latter, on the other hand, allows you to invest your money without being too involved in the process. In the case of Passive Investments, buy-and-hold is the preferred method, in which you invest and then hold it for a set period and enjoy the anticipated financial rewards.
Let us take this opportunity to explain two investing possibilities that we believe are both safe, profitable, and, most importantly, passive! You guessed it right if you think like us. We are discussing bonds and debentures. Let us take a closer look at these two investment options.
What are Bonds and Debentures?
There are two types of debt instruments, Bonds and Debentures. All Debentures are Bonds, but not all Bonds are Debentures.
Bond is the most common type of debt instrument issued by the Government, large Corporations, or Agencies of the Government to raise Capital. The borrower uses this money to fund its operations, and the investors are entitled to receive interest on their investment.
A Debenture is a type of Bond or Debt instrument that can be secured by collateral or unsecured. In case of Unsecured Debentures, having no collateral backing, they must rely on the creditworthiness and reputation of the issuer for support. Debentures are a popular short-term financing option for private enterprises looking to expand their operations or fund prospective projects. They carry a fixed or floating interest rate and the interest rate on Unsecured Debentures is generally higher than Bonds and Secured Debentures because of the absence of the physical assets of a company.
Who Should Invest in Bonds & Debentures?
Bonds are a good option for risk-averse investors. Bonds are seen to be a less risky and safer investment than debentures. Bonds are also a suitable alternative for long-term investments since they provide set principal and interest payments at predetermined intervals. Debentures, however, have the potential to provide investors with larger returns than bonds. Debentures are a viable alternative for short-term investing. It is up to you to determine whether you want to invest in bonds or debentures based on your financial goals after analyzing the advantages and disadvantages of the two.
Note: Before investing, investors should carefully read all the terms and conditions for each instrument and consider the market risks.
What Are the Different Types of Bonds and Debentures in India?
Here is the list of popular Bonds and Debentures available in India.
  • Central Government Bonds
  • State Government Bonds
  • Municipal And Local Authority Bonds
  • Corporate Bonds
  • Public Sector Bonds
  • Tax-Free Bonds
What are Corporate Bonds?
Corporate Bonds are Bonds that Corporation’s issued by corporations. Compared to Government Bonds (G-sec bonds), Corporate Bonds have higher yields. Credit rating agencies classify Corporate Bonds with "A-grade" or higher ratings as safer investment options.
How to Invest in Corporate Bonds?
In India, a Demat Account is required in order to invest in bonds. To access bonds and subsequently invest in them, speak with your broker or bank. The technique is largely manual and takes a long time.
Of course, you can always rely on SMEST for bond investments if you want to have a completely simple and hassle-free online investment experience. SMEST is a Stock broker in the Debt segment and renowned for its sizable selection of high-quality bond papers, open procedure, and simple online experience. It is important to note that SMEST just serves as a transaction facilitator, works as a broker, and may or may not have bonds or debentures on its books. Our primary goal is to offer clients a smooth and efficient bond investing experience while maintaining transparency and trust.
With us by your side, you can invest in bonds with 3 simple steps –Step 1 : Upload your documents online and complete the KYC.Step 2 : Choose the bonds that match your investment goal.Step 3 : Pay online and receive bond units in your Demat account.Bond investing benefits clients in a variety of ways. Bonds have proven to be a safe investment alternative for clients who are wary of market risk due to the reliability of interest and principal returns.
Features of Corporate Bonds
  • Bonds are known for fixed returns. They are short, medium, and long-term investment tools that entail assured returns, with a low-risk proposition.
  • Bonds offer a legal guarantee wherein the borrower is bound to return the principal amount to the creditors. Moreover, in the event of bankruptcy of the borrower, bondholders precede shareholders in receiving debt repayment.
  • While bonds are low-risk, they also offer lower returns as compared to other risky investment alternatives such as equity mutual funds and direct equity.
Advantages of investing in Bonds?
Investing in bonds can offer several advantages, including:Steady income : Bonds typically provide a fixed income stream in the form of regular interest payments. This can provide a steady source of income for investors.Diversification : Bonds can offer diversification benefits to an investor's portfolio. They can provide a hedge against volatility in the stock market, as bonds generally have a lower level of risk compared to equities.Lower risk : Bonds are generally considered less risky than stocks because they are a debt instrument and the issuer has a legal obligation to pay interest and principal to the bondholder. However, this can vary depending on the creditworthiness of the issuer and other factors.Potential capital appreciation : Although bonds are generally considered a conservative investment, there is still potential for capital appreciation if interest rates decline or if the creditworthiness of the issuer improves.Liquidity : Many bonds are actively traded in the secondary market, providing investors with liquidity and the ability to buy or sell bonds easily.Tax benefits : Depending on the type of bond and the investor's tax situation, investing in bonds can provide tax advantages, such as tax-exempt interest income or the ability to offset capital gains with capital losses.
Is there any Tax advantage to investing in Fixed Income securities?
Yes, there can be tax advantages to investing in certain types of Fixed Income securities, such as Tax- free Bonds, Municipal Bonds, etc.
Can Fixed Income securities be used as a hedge against inflation?
Yes, some high yielding securities can offer a higher interest rate which can protect your wealth and purchasing power against inflation.
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SEBI Registration No.: INZ000302039 | BSE Member Code: 6764
Compliance Officer Mobile no.: +91 70076 10155 | E-mail ID: compliance@smest.in (for any compliance & grievance related complaints)

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