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SpaceX is really three businesses
Most people think of SpaceX as a rocket company. It is. But that is only one part of the story. Here is what you are actually buying when you buy SPCX.
Profitable
Profitable
Loss-making
What are you paying for at $1.75 trillion?
At 107x last year’s sales, the multiple is high. Here is a rough decomposition of how analysts break down the valuation.
Starlink
~$700B
Space Systems
~$250B
xAI / orbital
~$650B
Nearly $650B of the valuation is a pure bet on things that are not yet meaningful revenue streams. That is not a reason to stay away — it is a reason to understand exactly what you are paying for.
Key dates to know
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How to buy SpaceX through Vested
Under the RBI’s Liberalised Remittance Scheme (LRS), you can remit up to $250,000 per financial year to invest in US-listed stocks. Here is the step-by-step.
Important: trading does not begin at market open.
When SpaceX lists on June 12, shares may not be available for trading right at 9:30 AM ET. Nasdaq runs a price discovery process before a newly listed stock opens. Orders are only accepted after live market data is confirmed, which may be later in the morning or early afternoon.
Sub-penny limit orders are not supported and will be rejected until the IPO opens for trading. Fractional trading requires an established market price and may only become available after regular trading is confirmed.
What to expect when SPCX opens
| Order type | What to expect on launch day |
|---|---|
| Whole-share orders | Available once the stock officially opens for trading and live market data is confirmed on Vested. |
| Fractional trading | May not be available immediately. Becomes available once live bid/ask prices are established and regular trading is underway. |
| Sub-penny limit orders | Not supported. Will be cancelled or rejected until the IPO officially opens for trading. |
The risks, plainly stated
Ready to invest in SpaceX?
Open a Vested account, complete KYC, fund it via LRS, and buy SPCX once trading goes live on June 12.
This blog is for informational purposes only and does not constitute investment advice or a recommendation to buy, sell, or hold any security. Investing in foreign securities involves currency risk, regulatory compliance requirements under LRS/FEMA, and market risk. Please consult a financial advisor before making investment decisions.
Frequently Asked Questions
Why Can't I place an IPO order before live quotes are available?
Before an IPO stock officially starts trading, there is no reliable live market price. Vested accepts orders only after the stock is officially active and live market data is available, to protect users from placing orders without reliable pricing.
Will SpaceX be available to trade right at market open on June 12?
Not necessarily. IPO stocks do not always start trading at 9:30 AM ET. Nasdaq runs a price discovery process before a newly listed stock opens. SpaceX may begin trading later in the morning or early afternoon. If it is not immediately available, check back after market open.
Will Fractional Trading is available immediately for SpaceX?
Fractional trading may not be available right when SpaceX starts trading. It requires an established market price to validate orders. Once live bid and ask prices are available and regular trading is underway, fractional trading may become available on Vested.
Can Indian investors get SpaceX shares at the IPO price?
Technically yes, under LRS. But in practice, IPO allocations are heavily skewed towards institutional investors globally. For most Indian retail investors, the practical route is to buy SPCX in the secondary market after listing through Vested.
