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Everything about NCD IPO: Meaning, Equity IPO Vs NCD IPO (Debt IPO)

Last updated August 22, 2026

This IPO News guide/article covers “Everything about NCD IPO: Meaning, Equity IPO Vs NCD IPO (Debt IPO)”. The page is organized around ncd ipo meaning, types of ncd ipo or debt ipo, what is equity ipo?, types of equity ipo, differences between equity ipo and debt ipo. IPO News presents the structured facts and tables in its own layout and wording.

Topics Covered

NCD IPO Meaning
Types of NCD IPO or Debt IPO
What is Equity IPO?
Types of Equity IPO
Differences between Equity IPO and Debt IPO
End Note
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Key Facts

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A company can offer two types of NCD issues, namely secured NCD and unsecured NCD issue.
Unsecured NCD Issue: Unsecured NCDs have no lien on the assets of the company and repayment depends on the creditworthiness of the issuer.
Fixed-price IPO: When a company issues shares at a fixed price, it is called a fixed-price IPO. For example, an IPO at a price of Rs 50 per share is called a fixed price issue.
NCD IPO is the best investment opportunity for low-risk retail investors. It is the best alternative to FD.
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A Complete guide on NCD: Secured and Unsecured NCDs, Tax implications

Data Tables

Basis of difference	Equity IPO	Debt IPO
Instrument	A company sells shares for the first time to investors.	A company issues debt securities to investors.
Source of funding	Public issue of shares is an equity source of funding.	Capital raised by issuing NCD is a debt capital.
Ownership	Investors are the shareholders who have ownership within the company.	There is no ownership transferred as investor is a lender to the company.
Returns	There is no fixed or assured returns as listing gains are affected by investors sentiment, public demand, and so on.	Debenture holder receives fixed interest income at a specified coupon rate.
Risk	High risk because an unlisted company does not have an established track record and listing success depends upon the sentiments. A successful IPO with huge demand can offer you high yield or vice-versa.	NCDs have moderate risk and provides slightly greater returns than traditional bank FDs.
Price	IPO can be a fixed price issue or book-building issue offered at a price range.	FPO is usually offered at a discount to the current market price of share.
Minimum investment	The minimum investment in a mainline IPO is mostly between Rs 14000 to Rs 15000 and in SME IPO, it is Rs 1 lakh.	Minimum investment in NCD IPO is Rs 10,000.
Frequency	Only the first-time share sell offer by a company is called equity IPO, and the once shares are listed on the exchange, the company becomes a listed entity. Subsequent share sell offers after the IPO are called FPO or Further Public Offering.	An NCD IPO can be issued multiple times in a year when the company needs funds.
Maturity	There is no maturity period and investors can sell shares immediately on the listing day or thereafter.	NCDs have a maturity period that can range from 90 days to 30 years. However, if needed, an investor can sell them on the exchange because NCDs are tradeable instruments.
How to Apply	Almost every broker offers online IPO apply through UPI.	Most of the broker do not offer NCD issues hence, you can instead apply through ASBA net banking using your demat account details or apply with other platforms like Golden Pi.
Allotment	In the retail category, shares are allotted through the lottery, and to HNIs, shares are allocated on a pro-rata basis.	Allotment of NCD is done on first come, first serve basis.

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