I have already checked the link, capacit''e company name is not yet included there.. May be we might have to wait for some more time. anyways thanks for your quick response.
483. Aniketiaf| Link| Bookmark|
September 21, 2017 8:50:20 AM
IPO Guru (1800+ Posts, 10200+ Likes)
Bhai, English to aati hai na, ya Hindi mai dubara message bhenju.
But problem is that my application falls under HNI category and as I heard I can''t select cutoff price under said category (HNI), cut off price option is valid only for Retail and not for HNI.
Please guide me regarding the same and also allotment rules under HNI.
473.1. BullOverBear| Link| Bookmark|
September 20, 2017 2:50:44 PM
Top Contributor (300+ Posts, 100+ Likes)
No, it will not be rejected
473.2. PSR| Link| Bookmark|
September 20, 2017 3:14:56 PM
IPO Guru (1200+ Posts, 700+ Likes)
Mr. Amarbull
What you have heard is correct.
There is no faciity to HNIs to bid at CUT-OFF and KARVY is strictly enforcing this rule. Hence, your application may not be considered for allottment proces.
Cut off price can be different for RII and NII in a book built issue. In this issue as in many issues in recent times the reality is that majority applications or all are at higher price band.Therefore the cut off becomes same for RII and NII. Since price discovery itself is at higher price band, your application will not be technically rejected.
473.4. PSR| Link| Bookmark|
September 20, 2017 5:11:51 PM
IPO Guru (1200+ Posts, 700+ Likes)
Mr. chitra kamat
I differ with you on this count. Cut off price cannot be different for RII and NII in a book built issue. Even in OFS by Govt., the cut-off price determined for ''other than retailers'' is being used as yard stick for bidding by retailers, which is taking place on the following day.
Cutoff bids are allowed to retail applicants.since retail applicants may not workout specific rates they put cutoff bid with understanding that what ever price is declared is acceptable excess amount if any will be refunded
Please refer FAQ of BSE as regards these differences of opinions raised. Point here is what is the cut off price for RII and NII in the case raised assuming all bids are the cap price?. If cut off can not be different for RII and NII then why RII can bid at cut off and NII can not? Whether cap price only can be cut off?Why the cap price qouted can not be the cut off for RII as well as NII in this case? How the application at cap price by NII can be disqualified merely because applicant has ticked cut off in his application? Can the price discovery be anything other than the cap price in this issue? We are not talking hypothetical case or pedantics but a real case where applicant wants to know whether his NII application will be technically be disqualified because he has ticked cut off in his bid. I am of the considered view that it can not be. It is always healthy and a pleasure to discuss in this forum.
One more querry to the experts. What happens if all RII bid at floor price and all NII at cap price? Will the cut off be different for RII and NII ? Why it is called a bid if the answer is no?
473.8. BullOverBear| Link| Bookmark|
September 20, 2017 9:26:40 PM
Top Contributor (300+ Posts, 100+ Likes)
1) I checked one of my previous application in NII categaory.
It was applied through ICICI Bank ASBA. Here on selecting NII radio button, it diables Cut-Off check box in bid details and hence I applied at Upper limit.
I just remembered that I applied at top/cut-off and was not rejected and hence replied same here. SORRY if it misleaded.
2) Further in the RHP :
Under "4.1.4 FIELD NUMBER 4: BID OPTIONS" =================== (c) Cut-Off Price: Retail Individual Investors or Employees or Retail Individual Shareholders can Bid at the Cut-off Price indicating their agreement to Bid for and purchase the Equity Shares at the Issue Price as determined at the end of the Book Building Process. Bidding at the Cut-off Price is prohibited for QIBs and NIIs and such Bids from QIBs and NIIs may be rejected. ======================
I hope it clarifies that cut-off should not be selected. (Thanks to ICICI Bank it disabled cut-off option for NII). However last line says it "may" be rejected and not will/shall or would/should.
Koy muje suggest karega ki ipo apply ke time price band ki highest price leni chahiye ya cutt off price. which is beneficial with respect to allotement purpose......?