This cud be the case but the best way to solve this is if a retail investor applies thru ASBA, the money is only blocked in account and not deducted so no need to wait for refund, also if alloted only then the money will be deducted so you will be first to know about the allotment status of your application even before it is declared online at registrar website
Karvy is one of the most famous name which i am sure everybody must have come across for some form of harrasment at some point of investment in equities.It is virtually known for delaying tactics,has been implicated for not refunding money to maximum applicants in one of the largest manipulated and hyped issue of Reliance power and even tulsian is always seen recommending Karvy issues.Therefore it has become one of the most hated name in equity,but as happens in our system,the authorities are always napping or turning into a blind eye..Mera Bharat Mahan...ram naam japna paraya maal apna.
Past experience with karvy shows that they are very prompt as far as allotment of shares is concerned. however, they had this NMDC issue, which sizewise was very big. hence the allotment of DQ may be as usual by tomorrow or day after. happy investing.
as such karvy is not getting work from new co.,they delaying allotment perposely....just now i called ,this people says allotment of ..DQ.will be on tuesday or wednesday.........by the way ,looking at recent ipo ,every co. has chosen ..link intime...wrking of link intime has improved a lot...hapy investing
regarding allotment, generally it takes 13-15 days from the close of the issue. going by that the allotment should happen earliest by 23rd and latest by 25th. all the best.
DQ'S SUBSCRIPTION WAS AS FPLLOWS :- Retail Individual Investors RESERVED FOR RETAILERS 4718100 SHARES SUBSRIEBED 91752160 SHARES, TIMES 19.4468 X (a) Cut Off 84390720 SHARES, TIMES 17.88 X (b) Price Bids 7361440 SHARES
IF PRICE BEED SHARES HAVE BEEN BEEDED, LESS THAN DECLEARED PRICE WILL BE DISQUALIFY FOR ALLOTMENT.
AND EMPOLYEES QUOTA WAS UNDER SUBSCIBED = 0.36 X
THIS UNSUBSRIEBED PART WILL BE ALLOTTED TO CATEGORYWISE TO QIB , HNI & RETAILERS.
DQ ISSUE WAS OVERSUBSCRIBED IN RETAIL 19.44 TIMES. BUT HOW MUCH OF THEM WAS AT CUT OFF PRICE? IN RECENT ISSUES RETAILERS ALSO BID AT PRICE BANDS AND WHEN ALLOTMENT COMES AT CUTOFF PRICE.IN THAT CIRCUMSTANCES OVERSUBSCRIPTION FIGURES GO DOWN.THE DETAILS OF DQ IS NOT AVAILABLE ON NSE SITE NOW.