FAQs
What is the dividend income tax liability for NRI investors in a GIFT City IPO?
Dividend income received by non-resident Indians (NRIs) or foreign entities from companies or funds listed in GIFT IFSC is subject to a withholding tax of 10% in India (plus applicable surcharge and cess).
Are NRIs required to file Indian tax returns for income earned through GIFT City IPOs or investments?
No Income tax-return filing is required for non-resident investors if only source of income in India is from GIFT IFSC.
What are the key advantages for investors in subscribing to an IPO listed on GIFT City compared to a domestic Indian stock exchange?
Taxes exemptions and simpler compliance (particularly for non-residents and FPI investors) - Zero capital gains tax - No Securities Transaction Tax (STT) - No Commodity Transaction Tax (CTT) - No stamp duty on trades via GIFT
Why can’t I see my completed IPOs on the Allotted IPO page?
This page displays your IPOs under two tabs: Applied and Completed. If you’re unable to see a past IPO, switch to the Completed tab to view applications that have either been allotted or were not allotted.
Why did my bid fail?
Your bid can fail due to a number of reasons. However, it is most likely that your bid price was lower than the final cut-off price, making your application ineligible for allotment. You can reach out to our support team for further assistance.
Can I sell my shares after the bid allotment?
You can sell your IPO shares after the company is listed on the exchange. The execution of any order will depend on the available liquidity and market demand on the exchange at that time.
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.
Can I cancel this bid now?
Once your bid has been successfully placed, it cannot be cancelled. If you need help or have made an error, you can reach out to our support team for assistance.
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.
I don’t have access to this email ID, what should I do?
Without access to this email, you won’t be able to receive the verification code and complete your investment. It’s best to contact our support team for assistance.
I haven’t received the OTP. What should I do?
If you haven’t received the OTP, first check your spam folder. If it’s not there, please wait 30 seconds before requesting a resend.
Can I directly transfer funds from my bank account and place a bid?
No, you will not be able to directly transfer funds from your bank account and place the bid. You will first need to add funds to your Belong wallet by transferring money from your bank account. Once the funds are credited to your wallet, you can use ...
Once I bid, is my allotment guaranteed?
No, allotment is not guaranteed. IPO shares are allocated based on overall demand and regulatory guidelines. If you do not receive shares, the deducted funds are released back to your Belong wallet.
What is the difference between bid price and cutoff price?
The bid price is the price per share you choose within the IPO’s price band; it is essentially the maximum you’re willing to pay. The cut-off price is the final issue price decided after the IPO closes; based on demand. If you select “Cutoff”, you ...