Three high-value initial public offerings (IPOs) expected in the United States market — SpaceX, Anthropic and OpenAI — have sparked interest among equity investors worldwide. According to reports from Business Standard, Indian investors cannot participate directly in IPOs in the US market, but they can buy these stocks once they are listed on exchanges. As reported by Viram Shah, founder and CEO of Vested Finance, primary-market allocations are routed through underwriting syndicates that largely serve US institutions and a few domestic retail channels controlled by banks. Indian investors using the Liberalised Remittance Scheme (LRS) route access US markets through a partner broker that does not sit in the IPO allocation chain. For SpaceX specifically, the filing suggests that direct IPO participation may be limited for Indian investors, but access to the stock after listing remains open through overseas investing routes allowed under LRS. SpaceX shares are set to start trading today at $135 on the Nasdaq stock exchange, with the first trade expected between 9 pm and 11 pm IST as the exchange completes its opening price-discovery process. The $75 billion IPO raised 555.56 million shares, valuing SpaceX at a record $1.77 trillion, making it the biggest-ever IPO in US history. Demand reportedly touched nearly $250 billion as investors rushed to gain exposure to SpaceX's businesses spanning rocket launches, satellite internet, defence contracts and artificial intelligence.
SpaceX reported revenue of $18.67 billion for 2025, mainly driven by Starlink connectivity, but posted a net loss of about $4.9 billion for the year, compared with a profit of $791 million in 2024. The filing revealed that the loss was largely due to capital deployment, which doubled to $20.7 billion in 2025 towards xAI and Grok compute infrastructure as well as Starlink constellation expansion. The prospectus estimates an aggregate addressable market of $28.5 trillion across its space, AI data centre and connectivity businesses. SpaceX also disclosed that it holds 8,285 Bitcoins, valued at about $642 million in Coinbase Prime custody. The company's net income could see sharp synthetic volatility, with every $10,000 move in Bitcoin's spot price leading to an $83 million swing in reported net quarterly income. At the IPO price of $135 per share, SpaceX is valued at roughly $1.75 trillion, placing it among the world's most valuable listed companies despite remaining loss-making. Starlink generated about $11.3 billion in revenue during 2025, up roughly 50% from the previous year, while delivering operating profit of around $4.4 billion.
According to CNBC TV18, Indian investors can access SpaceX through three primary routes despite the IPO's complexity. International brokerage accounts allow investors to open accounts with platforms like INDmoney, Vested Finance and Interactive Brokers that provide access to US markets and IPOs, though IPO participation depends on broker arrangements. GIFT City-based investing through India's International Financial Services Centre (IFSC) offers another option, with some brokers allowing investment in US-listed securities, though access requirements vary by platform. The simplest route for most retail investors is to wait until SpaceX begins regular trading on Nasdaq and purchase shares in the secondary market through international investing platforms. However, even with access to IPO applications, allotment is not guaranteed as demand exceeded available shares before listing, and institutional investors typically receive bulk allocations despite SpaceX reportedly reserving about 30% for retail investors. For investors in India, participating in the IPO was not a straightforward option, as US IPOs do not offer a direct allocation route for Indian retail investors. Those looking to invest can now only access the stock after its market debut through international investing platforms or via NSE IX in GIFT City. Foreign investing platforms note an outsized interest among Indian retail investors for SpaceX compared with any previous global IPOs, with Vested Finance reporting a surge in platform traffic as investors seek information about the listing.
Viram Shah, Founder and CEO of Vested Finance, reported that the SpaceX ticker connected to the Nasdaq feed is already live on their platform, with users actively searching for it. "We have seen a surge in traffic on our platform as investors want to know more about this listing. Marquee IPOs always lead to traction but this has been unprecedented," Shah stated. He added that many customers are making enquiries through social media and Vested's community forums. Sitashwa Srivastava, founder and CEO of Borderless, predicted that if the IPO allocation had been available to Indian retail investors, the demand could have translated into $50-100 million worth of investments. Despite some concerns about valuations, he expects the platform's daily trading volume to more than double on Saturday after listing, driven largely by SpaceX-related demand. Prathik Desai, a chartered accountant, plans to invest in the company and hold shares long-term, stating he will wait for corrections for a few weeks before buying but sees significant upside potential. Data from RBI shows that Indian investors' interest in foreign equity continues to rise, with remittances under LRS relating to investment in foreign equity/debt growing 56% year-on-year to $2.7 billion in FY26.
SpaceX shares will not feature on the two leading US indices — the S&P 500 and Nasdaq 100 — from Day 1. On the Nasdaq 100, SPCX may take up to 15 days after its June 12 listing to be included, while for the S&P 500, the wait could be at least one year. The S&P 500 requires companies to have been listed for at least 12 months and to be profitable, which SpaceX does not meet given its net loss of $4.94 billion in 2025. SpaceX is selling only about 3% of itself to the public, and under new rules, a company floating less than 20% gets its index weight set at three times its float, not its full market capitalisation. A $1.75 trillion company will enter with the index weight of roughly $160 billion, with Nasdaq-100 funds giving exposure at about 0.5% of the index. Most Indian mutual funds that invest abroad are already at the regulatory limits for investing overseas, so material allocations to SpaceX from Indian funds are limited.
Resident individuals, including minors, can remit up to ₹2 crore per financial year under LRS, as reported by Rupali Singhania, founder of Areete Consultants. The scheme is available for permissible current or capital account transactions, but is not available to corporates, partnership firms, Hindu Undivided Families, trusts, etc. Investors have to pay TCS of 20% once their cumulative remittances cross ₹10 lakh. Those investing in foreign stocks must report them in income-tax returns under Schedule FA, with dividend income or capital gains from foreign stocks reported in Schedule FSI of income-tax returns. However, LRS route is less suited to investors who would rather hand over investment decisions entirely to a fund manager, says Vishal Dhawan, founder and CEO of Plan Ahead Wealth Advisors. Investors making very small investments may not find this route ideal, and direct foreign investing requires robust research to avoid poor investment decisions. Vinit Bolinjkar, Head of Research at Ventura, recommended a staggered approach, waiting 30-60 days for price discovery rather than rushing in immediately after listing. Some analysts suggest getting exposure through global technology or space-focused funds that may eventually hold SpaceX, thereby reducing the risks associated with owning a single stock.
