In life, everything comes all at once or nothing. . In my life experience, not in any order: Flood or drought. Too many snacks in kitchen or nothing. Too many job offers or nothing. Few (three) girlfriends or just right hand. Too many IPOs or nothing. . Please add.
131. Gujju IPO| Link| Bookmark|
January 4, 2022 11:04:34 AM
Top Contributor (500+ Posts, 200+ Likes)
Hello friends, Minor demat k liye Pro stock kesa h? Koi use karta ho to pls reply Thanks in advance
Unrelated. . I am looking for a Bank savings accounts with free ATM/Debit card without any fees for transactions. I can maintain balance upto 50000. I already have SBI, HDFC and ICICI so it should be some other Banks. . How good is Slice, Jupiter? . Please respond within the parameters stated above.
In sebi new ipo rule for book building issues, a minimum price band of at least 105 per cent of the floor price will now be applicable. The difference in price band has been too narrow in some issuances, forcing the regulator to tweak this rule. It means company price band is 400-810 and if issue on upper price band means Ipo already doubled and nothing left for retailers and HNI.
Minimum 105% means 400-420 Or 380-400 in your example above 5 % of 400 / Upper price band as most of the recent IPOs came with less than 5% gap in price band. ( Eg : SLS , HP , Med+ , Metro ) (Exception : CMS Info 205-216 , Data pattern 555-585 )
120. jajo| Link| Bookmark|
January 2, 2022 6:37:37 PM
Top Contributor (300+ Posts, 200+ Likes)
Since the HNIs allotment methodology mentioned in the circular has raised different interpretations, the best course left for us to wait for the official clarification from SEBI.
SEBI IPO rules changes that impact HNIs the most 1) 1/3 & 2/3 of HNI Quota to be reserved for Small HNIs (>2-10 lakhs) & BIG HNIs (>10 Lakhs) respectively
2) Allotment of securities in case of NII category shall be on "draw of lots", as is currently applicable for the retail individual investors (RIIs) category.
While many in the forum our talking about #1, I think it is #2 that will have a bigger impact on HNIs. This "draw of lots" that currently happens in RII will pretty much change HNI into RII. Then why even have HNI Quota?
"Draw of lots" V/s "Proportional Allotment" is the main distinguishing factor between RII & HNI category. If "Proportional Allotment" is replaced by "Draw of lots" then HNI may only exist on paper as it will be an extended RII category.
Read somewhere that SEBI wants to ensure that IPO shares are distributed to widest possible audience in HNI category. The best way to do that is remove HNI category entirely and extend RII from 35%(or 10%) to 50%(or 25%). But they are not doing that, which implies, HNI has to behave differently than RII.
Would "Draw of lots" mean applicants it HNI category will get just 1 lot like RII in high demand IPOs?
"Draw of lots" may act as a death nail on NBFC funding in HNI !
Devil lies in the details so implementation details of rule #2 need to be seen once those are out.
119.3. jajo| Link| Bookmark|
December 31, 2021 10:35:12 PM
Top Contributor (300+ Posts, 200+ Likes)
My understanding is that SEBI has no intention to change the #2 HNI category (more than 10 lakhs). This will continue as at present with allotment on ''proportionate basis'' with ONLY 10% quota. #1 HNI (between 2-10 Lakhs) introduced to disperse maximum allotment amongst small HNIs with a new category and with 5% quota. This new category will have allotments on lottery basis or ''draw of lots'' as is at present in RII category. Otherwise there is no need for sub-division of existing NII category!
@jajo: The way I see it ''''draw of lots'''' could have at least 2 possibilities in theory:
1) ''''Draw of lots'''' for Small HNIs & "Proportional Allotment" for Big HNIs 2) Separate ''''Draw of lots'''' for Small HNIs & Big HNIs.
#1 seems to be more likely & reasonable option. I''ve nothing against it. I just wanted to confirm if it is already what SEBI explicitly stated somewhere or just an opinion.
119.5. DuckkyDuck| Link| Bookmark|
January 1, 2022 8:51:39 PM
Top Contributor (200+ Posts, 200+ Likes)
@Nexus - i also feel #1 is most likely. And this will be problematic for self funded HNIs who apply with 10-20 lac(like me). I take it as, for us earlier the the quota was 15% and now reduced to 10%. for 2-10lac - application number are more but application amount is less, and given a big chunk of 5% will be quite significant. But, it will be lottery. We HNI, apply in HNI to avoid lottery so wont opt for this. Also key point can be here, whats the difference between a HNI, say applying 2.1 lac application and another 9.9 lac application? They both will get 1 lot and as it is lottery so will have equal chance probably(Just like 1 lot and 13 application in retail have same chance) for 10+ lac - Here application number are less but amount is more. And funded and real big HNIs (whose applications we see in sample BOA document at very last) who apply for 200-300 crore will take the major chunk of the allotment.
As now 15% is reduced to 10%, baby self funded HNIs like me who apply with 10-20lac wont get anything I guess.
@DuckkyDuck: Totally agree with you on both points i.e. a) RII will effectively become 35+5=40% & NII=15-5=10% b) ''Proportional Allotment'' is what keeps most of the HNIs interested.
Seems like Small HNIs will end up getting 1 lot just like RIIs, but probability of getting it may change (most likely improve but in odd cases, worsen).
With SEBIs announcement, the Big HNI quota might have seen 50% increase in over-subscription had RBI not announced 1 Cr limit on NBFC funding.
IMO, SEBI must have waited to see the isolated impact of RBI''s new rule before bringing in changes for HNI quota.
I have stock market experience of 14 years.i have maximum profit in gr infra in ipo and Tata chemicals and ltti in stocks.l Have lost money in Adani Power.
इस महीने अडानी विल्मर का आईपीओ आने वाला है, जो करीब 4500 करोड़ रुपये का होगा। रुचि सोया का लगभग 4300 करोड़ रुपये का आईपीओ भी इसी महीने आने वाला है। गो एयरलाइन्स भी 3600 करोड़ रुपये के करीब का आईपीओ लाने वाली है। मोबिक्विक के 1900 करोड़ रुपये के आईपीओ के भी इसी महीने आने की उम्मीद है। इनके अलावा ईएसएएफ स्मॉल फाइनेंस बैंक लिमिटेड का 998 करोड़ रुपये और ट्रैक्सन टेक्नोलॉजीज़ का 500 करोड़ रुपये का आईपीओ भी इसी महीने आएगा। वहीं Skanray Technologies का 400 करोड़ रुपये का आईपीओ और साथ ही ओएफएस आएगा। ईएसडीएस सॉफ्टवेयर लिमिटेड का भी 332 करोड़ रुपये का आईपीओ ओएफएस के साथ आने वाला है।