Non-Convertible Debentures (NCDs) are fixed-income instruments issued by companies to raise funds from investors. Companies offer these through public issues, commonly known as NCD IPOs, which allow investors to invest for a fixed tenure and receive interest payments as per the terms of the issue.
Today, applying for NCD IPOs has become much simpler with digital investment platforms. Investors can compare available issues, review important details and complete the application process online.
What Should You Look for in an NCD IPO Platform?
While selecting the best platform to apply for NCD IPOs, it is important to check if the platform offers the following:
- Access to ongoing and upcoming NCD IPOs
- A simple digital application process
- Details such as coupon rates, credit ratings and payout schedules
- Information on tenure, issue size and minimum investment
- Easy-to-understand issue information
- Portfolio tracking
- Access to other investment products, if you prefer managing all your investments from one platform
Here in this article, we have compared some of the popular platforms for applying to NCD IPOs in India.
1. Groww
Groww allows investors to apply for NCD IPOs through a fully digital investment experience. Investors can explore available public issues, compare key details and complete the application process online.
Key Features
- Access to ongoing NCD public issues
- View coupon rates, credit ratings, payout schedules and tenure
- Check issue opening and closing dates, issue size and minimum investment
- Compare available NCD issues before applying
- Simple digital application process
- Track investments through the app
Other Investment Options
In addition to NCD IPOs, Groww also offers access to:
- Stocks
- Mutual Funds
- ETFs
- IPOs
- Corporate Bonds
- Gold
- Silver
Eligible users can also trade in:
- Equity F&O
- Commodities
- Currency Derivatives
Ideal for: Investors looking to apply for NCD IPOs while managing multiple investment products from a single platform.
2. IndiaBonds
IndiaBonds is a SEBI-registered Online Bond Platform Provider (OBPP) that focuses on fixed-income investments. It offers access to NCD IPOs, listed corporate bonds, government securities and tax-free bonds.
Key Features
- Access to ongoing NCD public issues
- Invest in listed corporate bonds and government securities
- Explore tax-free bond offerings
- Dedicated platform for fixed-income investments
Ideal for: Investors primarily interested in bond and debt investments.
3. GoldenPi
GoldenPi is a SEBI-registered Online Bond Platform Provider (OBPP) that offers access to NCD IPOs, listed bonds and government securities through a digital platform.
Key Features
- Apply for ongoing NCD public issues
- Compare coupon rates and credit ratings
- View issuer and maturity details
- Digital investment experience
Ideal for: Investors looking for a dedicated fixed-income investment platform.
4. Wint Wealth
Wint Wealth provides access to curated fixed-income investment opportunities, including bonds and other debt instruments. The platform also offers educational resources to help investors understand fixed-income products.
Key Features
- Access curated fixed-income investment options
- Invest in bonds and debt instruments
- Educational resources for investors
- Simple online investment process
Ideal for: Investors looking to diversify into fixed-income investments.
5. ICICI Direct
ICICI Direct enables eligible investors to apply for NCD IPOs through its integrated banking and investment platform.
Key Features
- Apply for eligible NCD public issues
- ASBA-supported application process
- Banking and investment services in one place
- Access to multiple investment products
Ideal for: Existing ICICI Bank customers.
6. HDFC Securities
HDFC Securities allows investors to apply for NCD IPOs through its investment platform while offering access to other investment services.
Key Features
- Apply for eligible NCD IPOs
- ASBA-supported application process
- Investment research and insights
- Banking-backed investment platform
Ideal for: Existing HDFC Bank customers.
7. SBI Securities
SBI Securities provides access to NCD public issues through the SBI banking ecosystem, making the application process convenient for existing customers.
Key Features
- Access to eligible NCD public issues
- ASBA-supported application process
- Digital investment platform
- Banking integration
Ideal for: Existing SBI customers.
8. Angel One
Angel One offers access to selected NCD public issues through its broader investment platform alongside equity and mutual fund investments.
Key Features
- Apply for selected NCD public issues
- Digital investment platform
- Access to multiple investment products
- Online portfolio management
Ideal for: Existing Angel One users looking to invest in NCD IPOs.
Comparison Between Best NCD IPO Platforms in India
The table below compares some of the popular platforms for applying to NCD IPOs based on their offerings and supported investment products.
| Platform | NCD IPOs | Listed Bonds | Government Securities | Other Investment Products |
| Groww | ✓ | ✓ | No | Stocks, Mutual Funds, ETFs, IPOs, Gold, Silver |
| IndiaBonds | ✓ | ✓ | ✓ | Bond-focused Products |
| GoldenPi | ✓ | ✓ | ✓ | Bonds, Fixed Deposits |
| Wint Wealth | Limited | ✓ | Limited | Fixed-income Products |
| ICICI Direct | ✓ | Limited | ✓ | Stocks, Mutual Funds, IPOs, Banking Services |
| HDFC Securities | ✓ | Limited | ✓ | Stocks, Mutual Funds, IPOs, Banking Services |
| SBI Securities | Limited | Limited | ✓ | Stocks, Mutual Funds, Banking Services |
| Angel One | ✓ | Limited | No | Stocks, Mutual Funds, ETFs, IPOs |
Factors to Consider Before Applying for an NCD IPO
Before investing in an NCD IPO, consider the following:
- Credit rating of the issuer
- Coupon rate
- Interest payout frequency
- Tenure
- Whether the NCD is secured or unsecured
- Financial health of the issuing company
- Liquidity after listing
- Tax implications
Keep in mind that a higher coupon rate may also indicate higher credit risk. Reviewing the issuer’s financial strength and credit rating can help you make a more informed investment decision.
Conclusion
NCD IPOs can be a useful addition to a diversified investment portfolio by offering an opportunity to earn fixed interest over a specified tenure. With digital investment platforms, investors can compare available issues, review key information and complete the application process online with ease.
The right platform ultimately depends on your investment needs, the features you value and whether you prefer a dedicated bond platform or a broader investment ecosystem. If you want to apply for NCD IPOs while managing other investments such as stocks, mutual funds, ETFs and corporate bonds from one place, Groww offers a convenient and fully digital investing experience.
Frequently Asked Questions
1. What is an NCD IPO?
An NCD IPO is a public issue through which companies raise funds by issuing Non-Convertible Debentures (NCDs) to investors. Investors receive interest payments as per the terms of the issue, and the principal amount is repaid on maturity, subject to the issuer meeting its obligations.
2. Can I apply for NCD IPOs online?
Yes. Investors can apply for NCD IPOs online through eligible investment platforms, Online Bond Platform Providers (OBPPs), stockbrokers and ASBA-enabled banks.
3. Do I need a demat account to invest in NCD IPOs?
Yes. Most NCD IPOs are allotted and held in demat form, so a demat account is generally required.
4. What should I check before investing in an NCD IPO?
Before investing, review the issuer’s credit rating, coupon rate, interest payout frequency, tenure, whether the NCD is secured or unsecured, and the company’s financial health.
5. Are NCD IPOs risk-free?
No. NCD IPOs carry risks such as credit risk and interest rate risk. Investors should evaluate the issuer’s repayment ability and other issue-related details before investing.
6. Which platform is best for applying to NCD IPOs?
The right platform depends on your investment needs. Investors generally look for platforms that offer access to ongoing NCD IPOs, a simple digital application process, detailed issue information and easy portfolio management. If you prefer managing multiple investment products from one platform, an integrated investment app can offer added convenience.
