Earthstahl & Alloys Limited IPO Message Board (Page 12)

You won't get allotment.

Apply

Already over subscribed, so apply and if lucky get selected through lottery, if not, anyway wait for next one.
BIKFOO, GLOHEA and LANCAR are giving good intra-day gains ... try those if want small term profit.

Yes. I am also not sure if I want to apply now

Just see listing of Aristo
Waiting for Dharni

So I am afraid of applying this.

It always depends on your broker.In zerodha you never face such issues.

Few rejections had come this morning, but now got it executed.

@Gaurav regarding Frog cellsat.. kindly update ur views, results & prediction for future? According to ur analysis can we buy Monday open pre market?...plz elobrate...Thanks

@Jamasait

Results doesn't have comparative figures for comparing Qtr, it posted results as, 3 M, 6M, 9M, 12 M.

so calculated by myself.
QOQ, revenue growth - 38%
QOQ profit growth - 63%

don't have figures to compare YOY.

Apply 6 retail applications and 1 HNI applications of 5 lots.

@SSingh Ji -- Why 6 retails and 1 HNI of 5 lot. I applied 1,1,2,2,2,2,11 lot in CHAMON and got ZERO. Now I am confuse now many application I need to apply.

@abc_xyz said KEY to allotment is SAME NUMBER OF LOT in all APPLICATIONS..
I am going to follow same.

putting 6 lot in retail is waste...isn't???

@
Ratna
If you have sufficient funds then apply for atleast 5 lots with number of multiple applications, as the retail is likely to be oversubscribed atleast more than 100 times hence difficult to get an allotment.

@abc_xyz thanks for your response awaiting for day long . I am having 25 lac as idle money. Earlier applying random like 1,1 ,2,2,3,11 lot until i exhaust 25 lac .

But sir you suggested that same number of a lot is success key . I will follow the same .

Can you please tell me what’s the secret of selection of 5 lot instead of 2/3 sir .. please respond

@Ratna
For better chance of allotment. If you still choose higher lot with multiple applications the success ratio becomes good.

@Gaurav :- Jaise ek TV serial ka naam tha "Ghar ghar ki kahani"

Same "Har investor ki kahani" (200 400 lucky logo ko chhod kar).

Ek aur ad ki tag line :- Khate jao, khate jao

Eise hi :- Lagate jao, lagate jao.

Kabhi to milega.

Mai bhi aap ki shreni (same position) me hoon.

Don't worry.... things will settle soon

+1

not allowed.

You will have to take overdraft against FD and take the funds to another savings account. You can apply ASBA application from that saving account.

Thanks @ROMY HNI

What is the cost of an overdraft?

@IPO APPLIER
For overdraft against FD, you need to contact you Bank Branch and request them for OD FD. Normally 80 to 90% OD is sanctioned against your FD. Separate OD account is opened for sanctioned amount. You need to transfer in SB account for applying in IPO. You have to pay an extra amount of 1 or 2% (rates differ from Bank to Bank) in addition to your FD rate of interest for the days you use the OD. Days counted from days of debit to credit in your OD account. Credit day is not counted for interest. Your FD earns the interest. Banks also allow OD FD on internet banking. Once visit your Branch or get help on mobile also.
Hope you will get reply here.

Yes, you can.
You need to create a sweep-in FD.

You don't need to take overdraft FD. Just create an sweep-in FD

No need of taking OD, opt for sweep in facility.. it get u fd interest rate and fd will sweep in only u r go into negative balance.

Note: ipo application amount block is not taking ur balance to negative it just amount get block n u r fd will not be sweep in.

Above not applicable to NRE accounts

@MVP, @ ajnabeedost
Have you tried this in HDFC bank using ASBA?
Just confirming as the hdfc website says you can't use sweep in for ipo application

@MVP and @ajnabeedost
Can you tell me :
I have made one fd in Bank for Rs. One lakhs for a period of 30 months @ 7.75%. Now how I will get funds in lieu of this fd? Can I use this fund of one lakhs in full or upto which limit without any charges and apply in an IPO. Whether sweep in fd will be allowed in my case? All Banks give this facility, are you sure? Reply from both of you will highly be appreciated. No if and buts.

@IPO APPLIER,
With HDFC Bank account, only this OD on FD will work.
Sweep-in is not available for applying IPOs.

Talk to your RM or go to a branch, and you will get 1% or nearby rates.
DO NOT do this online, as the rate is 2% from there.

@PKRAJ
2 possible ways to create fd & use for ipo (both r useless & impractical)
1) sweep in fd: offered in most banks with different name but basically fd is created when amount in savings ac increase more than certain limit (usually 10000), & break when amount in savings ac drop below certain limit. Problem is usually they are auto deposit for 3 for 3- 6 months, though fund remain unutilized for 1-2 year, so you only get 4-5% fd interest, rather than full fledged 6-7 rates of 2-3 years fd rates, & another problem, hdfc like banks only consider purr deposit in savings bank for asba, not consider sweepin fd amount in savings ac amount for asba.

2) od over fd: you need to have fd od & separate savings ac, which you can operate physical or online. Procedure is you apply od on fd when approved by bank, gives 80-90% (vary with diffetent banks) of fd amount & deposit in od a/c, which you transfer to another savings ac, from which you apply asba for ipo. Refund or unblock will happen in same savings ac, you transfer to od ac & od is closed & interest is charged to you in savings ac.
Problem is how much fund required is decided in last hours of last ipo day, & for od on fd, you need to apply arleast one day before (workaround is you demand max od on fd on previous day & transfer only required amount from od ac to savings ac & rest give back to bank with od interest for 1 day only). Another problem is unblock usually happens 1pm, but unfortunately if happen after 4pm, you can transfer amount to & close od ac next day, so need to pay od interest for one more day.

Basically if you want to apply ff in ipo, but still wants to earn fd interest on principal, best workaround is to open savings in AU bank like small finance bank which give around 7% savings ac intetest rate, but again this banks are riskier conpared to big banks like sbi & hdfc. Greed for higher savings ac intetest rate can sometime put your entire pricipal in danger, like yes bank. So take decision as per individual circumstances & individual risk appetite.

@SamJos,
Thanks a lot for your reply. I am using OD FD from last 14 years or so in two Banks, one PSU and one non PSU. I know the pros and cons of the system at my level. There are many new features also in the market. But when a FD is created, it is totally different.
My question was specially for MVP and Ajnabee and they have not replied. I think one must go to his Bank and know the procedure. The best solution of this problem.
Good Day.

@Sam Jos,

How safe are indus Ind and Bandhan Bank? They offer about 6pc on saving account.

I have tried IDBI Sweep in, but it doesn't work for IPO, you need have money in Saving account.

Does this work for IndusInd without actually sweeping out money from FD?

@IPO APPLIER
I think by this time you might has frustrated. It's better you go to your Bank where you have got an account and know the procedure. Otherwise you will have to open accounts in different Banks. Principal is valuable than interest. Decision is yours. You might have heard hindi proverb :"GAAL PHOOLANA AUR HASANA, DONO SAATH ME NAHI HO SAKATA". Here it seems that you are more interested in interest of FD than applying in IPOs because allotment is not confirmed whereas interest on fd is certain. Something is better than nothing. Enjoy.

I'm using sweep in fd in icici and yes bank since last year, working fine for me. I just keep enough money for 1 lot (2+ lakh in case of Main Board IPO BHNi application) in saving accounts. Got few allotments as well.

@PKRAJ

Thanks, the problem is I am in a small town currently and even the bankers don't know many times. Just want to figure out a way to earn slightly better interest and keep playing the IPO game till I don't find a better use for my capital.

@TujeMirchiLagiToMaiKyaKaru
Yes. Indusland & (may be) yes bank allows to use fd balance in savings ac balance to make asba application, but this s not allowed by rbi, as informed to me by several bank executives, but indusland allow to attract depositers. No need to accept sweep in faclity & fd interest corresponds to duration of fd.

@MVP - Can you specify duration & interest rate for sweepin fd. In kotak, hdfc & sbi, I got sweep in fd are created for 3-6 months (even though funds temain un utilized for 1-2 year) & only interest corresponding to 3 or 6 month duration fd.

@IPO APPLIER
Bandhan bank & Indusland bank are as safe as yes bank & au bank. 😃😂
https://www.goodreturns.in/classroom/list-of-safest-banks-in-india-declared-by-rbi-1271559.html

@Samjos
No restriction on period of FD. ROI is same as normal FD. Probably only restriction i'm aware of is you can't do sweepin with Tax Saver FD. I get 8.25% in Yes Bank for 35 month duration FD.