Elon Musk’s SpaceX is coming out with the largest initial public offering in Wall Street history. But can Indian investors be a part of the SpaceX IPO? The answer is not a simple yes — and the details matter.
SpaceX is planning to sell 555.6 million shares at $135 each to raise $75 billion, potentially marking the largest IPO in Wall Street history and valuing the company at $1.75 trillion. The final price is expected to be set on June 11, with trading on Nasdaq under the ticker SPCX expected to begin on Friday, June 12.
The Short Answer for Indian Investors
Indian investors are unlikely to get shares during the IPO allotment process. However, they can buy SpaceX shares in two ways — in the pre-IPO stage, or once the shares are listed and begin trading on the secondary market.
“Indian investors are unlikely to have direct access to the IPO allotment process. However, they can invest in SpaceX once the company is publicly listed and its shares begin trading on the secondary market through overseas investing platforms operating under the Liberalised Remittance Scheme (LRS),” says Subho Moulik, Founder & CEO of Appreciate.
Why Can’t Indians Participate in the IPO Directly?
The IPO book-building process in the US works very differently from what Indian investors are used to. In India, retail investors can apply for IPO shares through the ASBA process. No such equivalent exists for Indian residents in a US IPO.
“There’s no equivalent of an Indian IPO application or ASBA process in US — Indian retail can’t bid in the book. For Indians, the entry point is simply the open market once SPCX is trading, executed as an ordinary LRS purchase,” says Viram Shah, CEO, Vested Finance.
What About SpaceX’s Retail-Friendly Approach?
In the IPO allotment process, most shares typically go to institutional and high-net-worth clients — mutual funds, hedge funds, pension funds, insurance companies, and wealthy individuals. Indian retail investors simply do not have a seat at that table.
The distribution of IPO shares will happen through brokerage platforms such as Robinhood, Fidelity, and Charles Schwab. Other platforms include SoFi Technologies and ETrade. To participate, clients of Charles Schwab must keep at least $100,000 in brokerage assets. Fidelity is reducing its minimum requirement for the SpaceX offering to $2,000. Previously, it demanded balances ranging from $100,000 to $500,000 for several IPOs. Most likely, there are presently no minimum portfolio thresholds enforced by ETrade, SoFi, or Robinhood.
“SpaceX is routing roughly 30% of the offering to retail platforms like Robinhood, Fidelity, and Charles Schwab, which is unusually generous, but those are US-domiciled brokerages that aren’t LRS-accessible to Indian residents. So even the biggest retail carve-out in IPO history doesn’t actually reach Indian retail at the offer price,” says Shah.
How Can Indians Buy SpaceX Shares?
There are three potential routes for Indian investors:
The first and most straightforward route is the open market after listing. SpaceX shares will be available to retail Indian investors after listing on Friday, June 12 — but may or may not be available at the IPO price of $135.
Once SpaceX is publicly traded, Indian investors can buy shares via international platforms that enable investments in US-listed stocks under the LRS framework. The second route is through NSE IX, the IFSC international exchange, which also enables investing in US stocks. The third route is through global feeder funds, which may soon start accumulating SpaceX shares, giving retail investors another way to participate in the company’s growth.
The Bottom Line
Indian investors cannot get in at the IPO price — but they are not locked out entirely. Once SPCX begins trading on Nasdaq, the door opens through LRS-enabled platforms, NSE IX, or feeder funds. The price at which they can buy, however, will be determined by where the market takes the stock after listing — not the IPO offer price of $135.
Disclaimer: This article is for general informational purposes only and does not constitute investment, financial, or legal advice. SpaceX IPO details, including share price, listing date, and valuation, are based on information available at the time of writing and are subject to change. Investing in US-listed stocks through LRS-enabled platforms involves currency risk, market risk, and regulatory considerations. By their nature, IPOs can be risky and speculative investments, and it is important to read the Form S-1 Registration Statement and the prospectus before taking any investment decision. Readers are strongly advised to consult a SEBI-registered investment advisor or qualified financial professional before making any investment decisions related to SpaceX or any other US-listed stock.