Saudi Aramco IPO: Want to buy into world's biggest IPO? Anil Singhvi shows the ways you can do it
Anil Singhvi suggests how an Indian investor can invest in Saudi Aramco IPO —both directly and indirectly.
Saudi Aramco IPO: World's biggest IPO is here and Indian investors want to get their hands on it too. However, there is a bar on Indians. Saudi Aramco IPO is not available for US citizens. There is a solution though. Zee Business Managing Editor suggests ways through which an Indian retail investor can buy into Saudi Aramco IPO.
On the first way to buy, Anil Singhvi said, "One can buy Saudi Aramco IPO indirectly by purchasing an international mutual fund like Kotak Global Emerging Fund or Franklin Asian Emerging Fund. These mutual funds houses will invest in the Saudi Aramco stock if they found it promising. Buying an international mutual fund would make it possible for investing in the IPO and later on Saudi Aramco shares after the listing."
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Singhvi had another way through which an Indian can directly invest in the Saudi Aramco IPO. He explained, "In India, one can send $2.5 lakh outside India. So, if an Indian is keen to invest in Saudi Aramco IPO, he or she can get one's Demat account opened in the Indian broker company that has the license to operate in Saudi Arabia or a Saudi Arabian broker company that has Indian chapter. In short, a broker company that operates in both India and Saudi Arabia or a broker company that is listed in Saudi Arabia can help you invest in the Saudi Aramco IPO." However, Anil Singhvi said that it would be slightly hectic as it requires a lot of paperwork, but if an Indian is ready to do that paperwork, he or she still has the option of investing in Saudi Aramco IPO both directly and indirectly.