3124. C.A. Ramesha I don't think its realistic. If IT has to scritinize evebody apply above 100k, the will not have any other work except this. All IT scritinize's will be only based on pick up random one from the lot. hi all, please corrent me if I am wrong?
DEAR ALL INVESTORS ONE MORE IMPORTANT THING KEEP IT MIND, IF ANY ONE APPLY FOR IPO RS.100001/= THEY WILL BE GETTING AN INVITATION FROM INCOME TAX DEPARTMENT TO APPEAR AND GIVE EXPLANATION BEFORE THEM.
Where in you will be asked to show your All bank accounts Pass Book,where in all (A to Z) the transaction will be scrutinized.
IT IS MY EXPERIENCE.
SEBI MAY PERMIT RETAIL INVESTORS TO APPLY FOR IPO FOR RS.2 LAKHS, BUT LATER IT AUTHORITIES WILL KNOCK YOUR DOOR.
YOU MUST AND SHOULD ANSWER FOR IT.
WE ARE ALL WORKING PEOPLE, HOW DO WE FIND TIME TO GO TO IT OFFICE, ITO'S CAN NOT CLOSE THE CASE IMMEDIATELY, AS PER THE RULE YOU NEED TO GO FOR MINIMUM 4 TO 6 APPEARANCES.
Perhaps the 5pm deadline is for bidding centers to receive bids from SBI...not for us to submit bids to SBI. After link is removed they (SBI etc) have to do a lot of work to submit/upload bids of all applicants. So SBI in turn imposes timings of its own on us. So the 5pm deadline is really for SBI.
ICICI Direct - upto 3pm SBI - upto 2pm Sharekhan - variable but you can apply online upto 12noon. Sometimes upto 2pm if link is still there. No ASBA with online Sharekhan. IIFL - no online IPO...atleast none that I know of.
If you go the bidding center for IPO you can apply a little later - upto 4:30pm (or maybe 5 to 10 minutes before 5pm). These timings are not the same for all IPOs/Bidding centers. For NHPC I personally applied at around 4:30pm on last day. HNI cut-off timings at bidding centers may be earlier than Retail...I am not very sure of this...please check first. Your mileage may vary.
Can anyone post online IPO cut-off time for other brokers?
3104. Pandit Ji| Link| Bookmark|
October 29, 2010 5:54:16 PM
Top Contributor (400+ Posts, 200+ Likes)
Bhai pyar se samjhao yaar Babaji ko
Babaji, The timing on ICICI direct is till 3pm, maybe for SBI is as you say till 2pm although the IPO time is till 5pm, because these guys need to punch in the application form before 5pm, hence they close earlier, so as to avoid last minute late punching, Private brokers accept application late even after the stipulated deadline, but the guys in bank are employees who dont work beyond thier work timings, I hope your query is solved Babaji.
3103. Pandit Ji| Link| Bookmark|
October 29, 2010 5:42:47 PM
Top Contributor (400+ Posts, 200+ Likes)
Hello Everybody, new to this forum, Hope to gain some knowledge from people like you
Last day timing is 2:00 p.m. You need to apply at 1:00 p.m. to avoid last-minute rush / net problem due to heavy traffice / server error etc.
Even if issue closes at 2:00 p.m. staff need to update the information to Exchanges till 11:00 p.m. for heavily subscribed issues. If they allow you to apply till 5:00 p.m. on last day, then staff need to sleep in office itself.
Mr Dave Juan: Thank you for your effort in sharing the information with Co-Boarders. Could you please state whether the Registrar M/s Link Intime India Pvt., Ltd has ever provided such links or advance information for any one of the previous Issues handled by them.