Please remove date of allotment, credit of shares.... and mentioned No of working days ~ 5 like that.....Link in time at least responding , but karvy .....................
I have a question which might make me look stupid, but still I cant control myself. So here we go...
If an IPO is oversubscribed, say 5 times in Retail category on day 1, should I apply for more than one lot???
Per my understanding, everyone should get some shares, so rather than allotting one person multiple lots, they should give one-one lot to as many applicants as possible. What actually happens in such case? please shed some light.... Thanks in advance..
Let me clarify with an example , If an IPO has kept 1000 shares for Retail with a lot of 10 shares , ( that means 100 Lots in total to be alloted), the moment they get more than 100 applications in retail it becomes a lottery. if 100 apply with one lot of 10 then the subscription in retail is 1 time and all get one lot.. while if all apply maximum say 5 lots or 50 shares , the subscription is 5 times still all get 10 shares each. if No. of applications > total shares for RII / lot size apply for only one lot.
CAN I APPLY WITH SAME PAN BUT DIFFERENT DEMAT ACCOUNTS TWICE AS I HAVE DMAT WITH 5PAISA AND GEOJIT ,BANK DETAILS ALSO DIFFERENT ,LIKE 2 LOTS FROM SBI WITH 5 PAISA DEMAT ,2 LOTS FROM HDFC WITH GEOJIT DEMAT ,,
PLS REPLY I GOOGLED IT GETTING CONTRADICTING SOLUTIONS
Even I had same doubt hence I consulted a friend who is knowledible in this matter. He said that if PAN is same then applying through multiple demat would be treated as multiple applications. But he said many times registrar does not have a time to record all the details of a application and therefore the program to test multiple application is not run and such applications can get allotment. He also said better to get additional PAN no ( which is easily possible ) for a different demat accounts. He knows a person with 15 demat accounts with different PAN.
554.3. Huzefa| Link| Bookmark|
September 14, 2017 9:43:43 AM
Top Contributor (300+ Posts, 200+ Likes)
Hi Anil, Do note that it is a criminal offence for one person to have multiple Pan Card. If caught the person can even be jailed.
554.4. sugreev| Link| Bookmark|
September 14, 2017 10:40:49 AM
Top Contributor (200+ Posts, 200+ Likes)
when PAN is linked to AADHAAR, your friends friend will have only one PAN, all other 14 will become invalid. That is why linking pan will be necessary.
554.5. KING VINOD| Link| Bookmark|
September 14, 2017 11:22:29 AM
IPO Guru (2500 Posts, 5400+ Likes)
If you applying with same pan then both applications will be going to rejected
Anything can be asked by anyone and n numbers of time until unless it does not violets the ethics or hurt other''s sentiments...... But it is up to us whether we react to simply ignore.