SpaceX’s forthcoming IPO is likely to draw strong demand from global investors and is projected to be one of the largest public offerings in history. Interest is coming from both retail and institutional investors, with market buzz outpacing that seen around many other technology listings.

SpaceX is targeting a valuation of $1.75 trillion to $2 trillion for its Nasdaq IPO, which is expected to be the largest ever. It aims to raise around $75 billion via its maiden sale. The target is a sharp rise from late 2025, when a December tender offer and insider share sales valued SpaceX at about $800 billion. The proposed valuation would place it among the most valuable companies globally

For Indian investors, however, the excitement comes with a caveat. A SpaceX listing may offer access to one of the world’s most strategically valuable private companies, but investing in a foreign IPO, especially a high-profile US offering backed by Elon Musk, is not as simple as applying for an Indian public issue through a domestic broker.

One can invest in SpaceX's IPO through international investment platforms that give access to the US Securities Exchange and all of its markets, said Piyush Jhunjhunwala, Founder & CEO at Stockify. "Some Fintech and Brokers offer such services that make it easy for Indian investors to invest in US Securities and pre-IPO investments," he said.

Indian investors should carefully consider various factors including volatile currency fluctuations, tax policies in both the US and India, regulatory approvals, and determining if stocks are eligible for international brokers who will support the purchase of stocks by investors from India, before making an investment decision, cautioned Jhujhunwala from Stockify.

Indian residents can invest in foreign securities under the Liberalised Remittance Scheme (LRS) prescribed by the Reserve Bank of India (RBI), subject to the annual remittance limits and compliance requirements, said Sonam Chandwani, Managing Partner at KS Legal & Associates.

However, the access to marquee US IPOs is usually restricted to institutional investors, accredited investors, or clients of international brokerage platforms that have allocations. Retail participation from India often comes indirectly through feeder funds, ETFs, global investing platforms, or by purchasing shares after listing rather than during the IPO itself, she said.

According to experts, if SpaceX launches an IPO, Indian participation is likely to come through regulated international investment routes rather than direct retail allotment in the initial tranche. Its valuation debate could turn political and strategic, not just financial. She added that markets will judge the company on profitability, governance, disclosures, cash burn and sustainability.

"There is also an important regulatory and risk angle which retail enthusiasm often ignores. SpaceX today derives significant value from defence contracts, satellite infrastructure, and strategic technology. A public listing would attract intense scrutiny from US securities regulators, national security stakeholders, and global investors," Chandwani from KS Legal said.

From an Indian legal and compliance perspective, investors must be cautious about unregulated platforms or grey-market arrangements claiming to offer 'pre-IPO' access. Many such structures operate in legal grey zones and may violate FEMA norms or securities regulations. Retail investors should ensure that investments are routed only through RBI-compliant and SEBI-compliant channels, she cautioned.

Ahead of the listing next month, SpaceX completed a largely successful Starship test flight on Friday, deploying mock satellites and making a controlled splashdown in the Indian Ocean. It was the 12th Starship test since 2023 and the first flight of the upgraded V3 version.

SpaceX has spent more than $15 billion on Starship, which is meant to support more frequent Starlink launches, future NASA moon missions and lower launch costs. The launch, after months of delays, could help strengthen investor confidence before the flotation.

For Indian retail this isn't an IPO-day story rather it is a Day-1-of-trading story. The LRS window is open, the $250,000 annual limit is plenty for any individual investor, but the IPO allocation itself will almost entirely go to US institutions and a small slice of US-domiciled retail, said Viram Shah, Cofounder and CEO at Vested Finance.

"The practical play for Indian investors is the secondary market the moment SPCX opens on Nasdaq on June 12 and in the same week through standard LRS trade through any global investing platform. Very similar to buying Tesla or Nvidia today through the platform today. The history of mega-IPOs such as Meta, Uber, even Alibaba also suggests that waiting for the first few weeks of price discovery is often a better entry than chasing the Day-1 pop," he added.