Friends just received reply from cameo they confirmed it again that it was due to internal technical glitch at the end of Axis Bank as sponsorer of the issue the applications were forwarded without blocked funds mandate. They have con called with Axis Bank and Bank has told that they will unblock the funds by today. Cameo has nothing to do with this problem.Axis bank is culprit. Cameo has persuaded the bank to resolve the issue and unblock the funds internally. Bank has assured them to resolve this by today So we will have to keep little patience.
Culprit? Kaya punishment mila Axis ko? Axis ne galti kia, ab usi ka persuation chal raha hai. CAMEO should make reallottment and take axis to court, otherwise they are equally culprit.
153.2. Imhilli| Link| Bookmark|
June 9, 2023 11:36:33 PM
IPO Guru (1200+ Posts, 700+ Likes)
Yes. I have also got similar response from CAMEO. But who decides the banking? It is promoter or the registrar? Experts please let us know. Many people have missed the allotment process. There should be compensation to the investors.
Finally upi unblocked. How can we take action again axis/Cameo not considering the application event though application submitted correctly and amount blocked.
@enthuipo, dear kindly re check u r account wheather your bank has again put the same amount on hold in today s date. My UPI is also un blocked but again same amount has been put on hold in today s date
Reply from Cameo regarding unblock - Dear Sir/Madam,
There is a technical issue at Axis Bank, who is the sponsor bank for UPI. We have had a concall with Axis Bank this morning regarding the same and they have confirmed that some applications received in bid have not been confirmed to us as blocked, while they have shared the data to us. Hence we have not considered those applications for the allotment. Also as per our records, since the amount is not blocked for those applications, we have not given the unblocking instructions also. Now, Axis Bank is taking up the matter internally & with NPCI to get the unblocking done directly with the respective banks of the investors. It is expected to get resolved today. We request you to kindly bear with us till then.
149. YBPK| Link| Bookmark|
June 9, 2023 1:33:31 PM
Top Contributor (200+ Posts, 700 Likes)
SEBI is regulator for capital markets so all listed securities, whether equity or debt, come under its purview.
Complaints can be made on sebi website https://scores.gov.in/scores/Welcome.html
149.1. Imhilli| Link| Bookmark|
June 9, 2023 2:01:41 PM
IPO Guru (1200+ Posts, 700+ Likes)
Yes. We should lodge complaint seeking compensation from the registrar for the glitch. Atleast the listing gain and interest for the application amount should be sought.
149.2. Scrip| Link| Bookmark|
June 10, 2023 4:23:37 PM
Top Contributor (500+ Posts, 200+ Likes)
ASBA mein savings rate ka interest toh milta hi hai
149.3. Imhilli| Link| Bookmark|
June 11, 2023 12:27:57 AM
IPO Guru (1200+ Posts, 700+ Likes)
Point here is investors missed the opportunity of investment in a lower subscribed IPO.
149.4. Scrip| Link| Bookmark|
June 11, 2023 8:02:30 AM
Top Contributor (500+ Posts, 200+ Likes)
SMEs comes under and regulated by BSE or NSE and not SEBI. That's why it's too risky. Regulations are loose and without any lease. So think before applying in SMEs. Let's see what happens if this SME euphoria is over. Last time similar euphoria was seen in 2018. Huge value was eroded and most investers fled this segment of market, to return back in 2021. Let's forget it and keep moving. This (prolonged blocking) was one of risk associated with it. If corrective measy are not taken by BSE, it will be repeated by others. There are other risks also, that will become evident to new investers over time.
Dear Members ,actually this was fault on behalf of Axis Bank as sponsor of issue .Almost 700 hundred application was sent without blocked funds as a result of this all applications were not considered for allotment. I emailed them and warned them of legal action so they replied and said that they have raised the issue with Axis Bank and asked bank to unblock the funds. Registrar has assured to inform again as soon as refund is issued. So this is whole story. Better luck next time .
147.1. CB🤗| Link| Bookmark|
June 9, 2023 2:06:41 AM
IPO Mentor (1400+ Posts, 400+ Likes)
Wow what a pity, how Axis Bank will unblock the fund if they have not blocked??Why they don't tell 700 application fixed and earned money? What government agencies are doing if some fault or fraud at this level involving crores or ruppies taking place? They think retail has no brain but only ...Rascals ..
146. CB🤗| Link| Bookmark|
June 9, 2023 1:52:41 AM
IPO Mentor (1400+ Posts, 400+ Likes)
I am fed up with the unprofessional behaviour of many agencies related to stock market. They are just closing their eyes when it comes to interest of retail investors. Recently BCC shares were withhold for more than two months without the fault of buyers and in mean time price eroded more than 40%. Now see the gross negligence in this ipo, despite the known glitch they are not going to do fix and do re-allotment. They will not do because there is very less chance that Axis Bank not blocked fund. It is pure dirty game. I predict central government will change in 2024 as that is not friendly to retail/common man at most levels. One bad thing will go but more bad things may take place. Be Cautious.
Please be informed that we have received your application in the bid for the below mentioned application number, but as per confirmation provided by your bank the UPI amount has not been successfully blocked. Hence your application not considered as valid. Kindly take this issue with your bank regarding the blocking/unblocking of funds.I Got This message Wow! Now Please anyone tell How to block funds?strange?
@Ansari Ji. Mine same case. SBI not removed hold . Sucessfully bidded but not found in allotment staus. blank . I think mine too some UPI problem. Whom to enquire sir . Registrar or Bank or Motilal Oswal. Please guide me sir
144. MAMU| Link| Bookmark|
June 8, 2023 10:46:16 PM
IPO Guru (2000+ Posts, 1200+ Likes)
No premium activity heard anywhere i think even after allotment comes out. Full-on action will be happen on MONDAY in listing. All the best who alloted 👍
@SSingh ,Sir definitely u will earn handsome profit from this may not be immediately but yes definitely. Kindly tell how will be refund take place of data not found cases
143.5. SSingh| Link| Bookmark|
June 9, 2023 8:36:20 AM
IPO Guru (1400+ Posts, 800+ Likes)
There seems a big glitch how can register say that they have received the bid but the fund was not properly blocked. When I asked from bank they replied either it is blocked or not blocked WT is properly blocked. How can register receive the application bid without mandate approval. Experts u r guidance on this please
142.1. SSingh| Link| Bookmark|
June 8, 2023 8:20:33 PM
IPO Guru (1400+ Posts, 800+ Likes)
Sab mile huye hain bhai. No body wants ki retailers ka paisa bane.. 😂😂
142.2. CB🤗| Link| Bookmark|
June 9, 2023 8:38:06 AM
IPO Mentor (1400+ Posts, 400+ Likes)
It is all done intentionally. Even if government agencies has become worst than a yawing chaukidaar, we all should share this kind of fraud with Sebi scores. Data andd email will remain a historical proof and that may help when the agencies start working properly. I am waiting for reply from registrar and then referring that I will post on SCORES. Also will write to Axis Bank with my UPI transaction to check what they reply
I have applied through axis upi. Money still blocked. How come came can say that the money not blocked? Something fishy. this Cameo registar has always problem.
I spoke to cameo person he says amount not blocked by bank , he says to speak to bank and bank says amount already blocked experts kindly suggest where to lodge complaint
Dear Investors, Please note that the issue closed on 02.06.2023 and the basis of allotment was approved by stock exchange on 07.06.2023 (T+3) and the refund instructions to unblock the funds were sent to all banks including UPI bank yesterday night. All banks are unblocking the funds one by one. All refunds are expected to be unblocked by today. As regards the status of "no data found" on our webpage, there are few applications in UPI for which we have not received confirmation regarding blocking of amount from Axis Bank, who is the Sponsor bank for UPI (regardless of which bank the investor holds account). Hence those applications were considered as "Bids without payment of application money" and were not considered for allotment. As regards allotment, Retail category got subscribed by 1.40 times and HNI got subscribed by 2.60 times. Due to oversubscription, in retail category 3087 investors were alloted out of 4334 applicants. Please write to us at manoj.s@cameoindia.com for any further queries.