Will my money be deducted immediately?
Yes. The bid amount is deducted from your Belong wallet right when you place the bid. In the event that you do not receive an allotment, this would get refunded back to the Belong wallet.
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Will taxes apply to IPO gains?
Capital gains from GIFT City IPOs are not taxable in India for eligible non-resident investors. Tax treatment may vary based on your country of tax residency. Resident Indians will have to pay tax in India as per income tax rules.
Where will the shares be listed post IPO?
The shares will be listed in on both major exchanges within GIFT City - NSE IX and India INX.
When will I know the allotment status of my bid?
After the IPO bidding period closes, the allotment process is typically completed within a few days. Investors will be notified through the app once the allotment status is available.
Will my funds be refunded if I don’t get an allotment?
Yes. If you do not receive an allotment, the blocked amount will be released back to your Belong wallet. There will be no additional charges for the same.
How long will it take for my shares to be allotted?
Once the IPO bidding period closes, the allotment process is typically completed within a few working days. You will be notified once the results are announced. Please note that allotment is not guaranteed and depends on overall demand.