Gabriel Pet Straps Limited IPO Message Board (Page 2)

congrats

Would you apply if you couldn't sell in gray? @M Gupta

Yes , i have applied a few open as well

applied as per your advise. Full force.

I had sold few lots assuming 200 times oversubscription. But now it appears that i will stand short.

as a measure of precaution i applied a few open applications as well. If luck favours, then only, I will be able to cover my entire qty sold.

For retail investors, its an advise to apply as much as by UPI till 05: pm today.

​@M Gupta  selling in grey at gmp/premium at lower rates can be very risky....because many times subscription increases huge in last 1 hour or 30 mins and if you have applied with good amount also thinking that you will be allotted 1 lot but still you may not be allotted and if you have sold 2-3 lots and you get only 1 lot and then if ipo opens later at much more premium then it would be plain selling for you and big loss without any allotment....
such things happened before multiple times in many ipos like qualitek and pramara etc with many people....so better sell after 4pm only once we know final subscriptions and our application size (even if we need to apply open till then)

I prefer selling in sub2 rate (during ongoing subscription).
That way you get somewhat less rate but you won't have to pay from your pocket in case above expected listing.

​@lokes  You are absolutely right.
@GrayIsTheNewBlack Good suggestion from retail Investors point of view.

But mine is a different case. I have capacity to increase last minute size of applications, Which I have done on the eleventh hour. In this case , I had made few large applications open.

However, the subscription was so high that even I will end up being short by 1 lot.

I may need to do FFF on listing date to square off the Position as currently there is no seller in the scrip.

Despite being short by a lot, I pray for a good listing as this will help overall SME sentiment to continue.

I will consider both your suggestions in future.

Sir,
What is the basis for 117 lots. Is it due to the number of subscription expected in HNI.

@KGSKIPO: Yes. I expected the NII subscription would go up to 150 times and so I applied for 117 lots to become sole person in this odd lot size and to get one lot confirmed allotment. Now the subscription has gone up to 361.56 times and so if I am the only one applicant in this category size there is no chance of even allocation of 1 lot. So I am searching for one co-applicant in this lot size so that I can test my chance of getting allotment in the ratio of 1:2.

If 150 times subscription expected, is it not correct to apply 150 lots to get one lot. Please correct me I am wrong.
I am also remembering that you said that Indusind bank has broken your all linked FD for one of the application. Whether Indusind bank settled the issue.

@KGSKIPO:
1) Yes. If fund is there, we can apply for 150 lots. In case of oversubscription by 150 times only, then we can get one confirmed lot irrespective of any number of people in this lot size.
2) I fought with Indusind Bank persistently, escalated the issue up to the level of Principal Nodal Officer cum Vice President of Indusind Bank and finally got the issue resolved with compensation of Rs.2.18 lakhs. It took 7 weeks to settle the issue.
3) Now I am thinking of shifting to IDFC First Bank. Do you have any idea about this Bank?

Thanks for the information. It's happy to hear from you that you got the issue resolved and got compensation also. I have account with ICICI Bank for the last six months and using linked FD for application of IPO. So far, no issues. Being a senior citizen, I get 7.6 % intrest for 15 months. My small opinion is keeping huge money in mid sized private bank can be avoided. I understand that IDBI is paying good intrest for saving account balance itself.

​@DEVBULL 
I am facing the same problem with indusind bank.

Can plz let me know the exact emmail address and initial correspondence l, i need to do to resolve the issue.

I have also suffered hugh loss due to Indusind Banks mistakes of braking the FDs.

I put as IDBI instead of IDFC in my reply. I do not know whether savings account linked FD available in IDFC First bank

@KGSKIPO:
Yes, it is risky to keep money in mid sized private Bank. Even ICICI BANK is not an exemption. I have two accounts (wife & myself) with ICICI BANK for the past 20 years. Still I am holding them. Once, in the year 2008 or so, I rushed in to ICICI Bank and withdrew all amount due to some rumors. Nowadays, RBI is coming forward and trying to bail out in case of problem. Recent example is Yes Bank.
2) My enquiry and findings regarding IDFC First Bank: This Bank is paying interest up to 7% in the Savings Account with monthly payout benefit. FD interest rate is 8.25% for 549 days – 2 years for Senior Citizens. FD linking facility for applying for IPOs. Advantage of extra cut off time (i.e. 3.30 pm for HNI application).

@M Gupta:
A) Send email complaint to reachus@indusind.com with copy to your Branch Manager.
Complaint letter:
Sub: Wrong Auto Sweep of several FDs amounting to Rs. ___________
on __________ - Request for reversal of the said unwarranted Auto
Sweep transactions made on _________ or payment of compensation
towards loss of interest -Reg.
Ref: My Savings Account No.___________________.
*****

1) Though I have enough cash balance of Rs. ___________ on ________ to honour the debit instructions for Rs. _________ received on _________, you have made Auto Sweep of my 14 FD(s) amounting to Rs. _________ on __________ wrongly, resulting reduced interest payouts with penalty.

2) As you had kept the entire amount of Auto Sweep proceeds as unused on __________ as evidenced from the enclosed Bank Statement for _________, it is proved beyond doubt that the said Auto Sweep is unwarranted and so cannot be accepted. As per the terms and conditions ticked by me at the time of payment of FDs as linked FDs, you are authorised to break the linked FD unit(s) to honour debit instruction in case of insufficient balance only.

3) Hence, I request you to look into the matter and arrange for reversal of the said Auto Sweep transactions made on _________ or payment of compensation towards loss of interest.
*************************
B) If not settled, escalate the issue to Mr. Rakesh Ranjan, Executive Vice President & Principal Nodal Officer (email address: nodal.officer@indusind.com)

​@DEVBULL  You please confirm with IDFC First bank regarding availability of Linked FD facility. I have not seen or read about the linked FD facility in IDFC.

​@DEVBULL IDFC has linked FD facility but needs branch visit, earlier it used to be only for senior citizens, might be the same still. Concrete information can only be provided by your nearest branch.

For other linked FD options you can explore YES Bank, RBL, ICICI

​@MuStrFc Visiting the bank is a difficult task that too if you are away from bank. If visiting bank for linking each FD , it will be tedious task. If a facility is not available in netbanking, it's is of no use. Every thing should be in our hands

​@KGSKIPO For Yes Bank and ICICI, one need not visit branch, everything can be done online. For RBL though, that option is not available online as of yet. Might get implemented soon though, lets see.

​@DEVBULL @MuStrFc Thanks for all the information shared

​@MuStrFc Please are you 100% sure that in IDFC bank we can apply ipo from link fd without breaking it?Because I have spoken to my branch many times but they said they don’t have this feature.

​@Ayank I just mentioned that linked FD feature is present in IDFC. To extend it further, it works for all cases without breaking FD. But in IPO UPI Mandate, it breaks the Fixed Deposit. From that point i didn't bother to try it with ASBA assuming similar result, maybe that's what the branch officials intended to say that the feature works but not to everyone's taste.

Hope it helps !!

@Ayank, @MuStrFc, Other IDFC First Bank - Net Banking ASBA Users:

The IDFC First Bank Account holders applying for IPOs under HNI category may kindly reply the following queries for the benefit of forum members. I have furnished the position with regard to Indusind Bank against each query.

1) What is the cut off time on IPO closing day for HNI?
Indusind Bank ---> 3.00 pm .

2) Whether FD linking facility is availabale?
Indusind Bank ---> Facility available. It is one time linking at the time of online payment. Facility for linking/delinking after payment is also available.

3) Whether we can apply multiple FDs and individually linked into Savings A/c through Net Banking?
Indusind Bank ---> Yes

4) Supposing we have 2 lakhs in Savings A/c and 50 lakhs in FDs (i.e. Rs.5 lakhs x 10 FDs);
i) whether we can apply for IPO for 51 lakhs (i.e. blocking the amount in the savings a/c and FDs) leaving just one lakh only as Combined Balance?
Indusind Bank ---> Yes

ii) in that situation, in case of allotment of shares for Rs.1.4 lakhs (SME), whether the debit instructions will be met out from available savings balance of Rs.2 lakhs without breaking FD(s).
Indusind Bank ---> Yes

iii) supposing allotment of shares is for Rs.2.1 lakhs (Main Board), in that scenario of insufficient savings balance (short by Rs.10 thousand), whether latest FD of Rs.5 lakhs only will be broken to meet out the debit instructions or entire FD(s) blocked for applying for IPO will be broken.
Indusind Bank ---> Latest FD of Rs.5 lakhs only will be broken. That too, just Rs.10 thousand only will be swiped into Savings A/c and balance of Rs.4.9 lakhs will remain as FD. Of course, I have not physically tested and experienced this point.
Some time back, the Indusind bank had made Auto Sweep of my 14 FDs wrongly (i.e. all FDs blocked for IPO) though there was sufficient cash balance in Savings A/c to meet out the debit instructions for allotment of shares. I made complaint and got compensation for interest loss.

​@DEVBULL I don't think that you will get answers as nobody has discussed in this forum about the presence of linked FD in IDFC First bank. All discussion on linked FD with banks like Kotak, ICICI, YES bank, Indusind . BOB and RBL. The clear ones are kotak and icici. However, I request forum members who are using linked FD in IDFC bank to write their experience.
@DEVBULL By the way, what is the type of saving account you are using in Indusind bank

​@DEVBULL  The SME allottment is proportional to the number of lots applied. Assuming a case of HNI subscription of 100 times, how many lots minimum I have to apply to get one confirmed lot. If I apply 51 lot, can I get one lot. Suppose 2 people applied 51 lots, whether both will get one lot.

​@KGSKIPO Please go through my messages at below link, it will give you fair idea of allotment chances in SME IPO.

https://www.chittorgarh.com/ipo/ipo_discussions.asp?a=1574&c=694065&ap=0

🙏

@KGSKIPO:

My Account Type in Indusind Bak: Savings Choice Account
Product: Indus Select

SME Allotment chance:
Reply to first query:
Apply for 100 lots to get confirmed allotment irrespective of number of applicants in this lot size where HNI subscription is 100 times.
If you slightly reduce the lot size, confirmed allotment chance will depend upon the number of applicants in that lot size.
Supposing, you apply for 99 lots where HNI subscription is 100 times, then the allotment chance is 100% up to 50 applicants only in that lot size. If one more applicant comes, then the allotment chance would be in the ratio of 50:51 (lottery). One person will miss out.

Reply to your second query:
If you apply for 51 lots where HNI subscription is 100 times and if you are the only one person in this lot size, then you will get confirmed allotment.
If there are two persons in this lot size, your change of getting allotment is in the ratio of 1:2 (lottery)

​@DEVBULL  Thank youu for the fantastic reply. Learning new things every day. I am using icici and kotak linked FD. If you have any queries on using these banks, I can reply. This group has imparted lot of education.

@DEVBULL Sorry for asking one more query. How do you estimate the HNI subscription for an IPO. I know that it is very difficult to predict. On what basis will you estimate. At what time on the last day, we can predict approximately.

@KGSKIPO:
1) I guess you are also senior citizen like me. Please confirm.
2) Regarding assessment of HNI oversubscription, I will check up and take 3x by 2.45 pm and apply accordingly before 3 pm. If it is 60 times at 2.45 pm, I will predict 180 times and apply for 103 or 107 or 113 or 117 lots depending upon the funds position at that time.
3) If possible, please explain the modalities of FDs and their usage in IPOs in detail with regard to ICICI Bank in the same way I explained for Indusind Bank.

​@DEVBULL 
1) Yes, I am senior citizen like you. Attained the age of 60 last month.
2) Thanks for sharing the basis of calculations.
ICICI queries and answers -

1) What is the cut off time on IPO closing day for HNI?
3.00 PM ( as per their website and i normally complete the application of ipo previous day. Other users can share their experience.)

2) Whether FD linking facility is availabale?
When opeing the FD, we have to select Money multiplier which creates linked FD with them. Afterwards, You cannot link / delink the FD through net banking. We can delink / link the FD through the branch officials. It is not possible to close the linked FD and we should just draw the money which will be taken from linked FD. Delink / link is a very good option and it is not available. In Kotak, it is available.

3) Whether we can apply multiple FDs and individually linked into Savings A/c through Net Banking?
We can apply multiple FDs in money mutiplier so that linked FDs can be created. If you have created standard FD and want to link it, there is no option in net banking. But, you can request branch and they can convert the standard fd into linked FD. This can be done through phone also through the branch if you know them

Rs.10000 minimum ballace will be maintained and if it goes less, it will draw from linked FD.

4) Supposing we have 2 lakhs in Savings A/c and 50 lakhs in FDs (i.e. Rs.5 lakhs x 10 FDs);
i) whether we can apply for IPO for 51 lakhs (i.e. blocking the amount in the savings a/c and FDs) leaving just one lakh only as Combined Balance?
You can apply for 52 lakhs. ( Saving balalnce and linked FD balance)

ii) in that situation, in case of allotment of shares for Rs.1.4 lakhs (SME), whether the debit instructions will be met out from available savings balance of Rs.2 lakhs without breaking FD(s).
Yes. It will taked from saving account and no FD will be broken. I maintain 10000 only in saving account and If allottment comes, i will add the required amount in savings account which will be deducted.

iii) supposing allotment of shares is for Rs.2.1 lakhs (Main Board), in that scenario of insufficient savings balance (short by Rs.10 thousand), whether latest FD of Rs.5 lakhs only will be broken to meet out the debit instructions or entire FD(s) blocked for applying for IPO will be broken.
Latest FD of Rs.5 lakhs only will be broken. Assuming 2 lakhs in your saving account, Rs.20 thousand will be swiped into Savings A/c and balance of Rs.4.8 lakhs will remain as FD so that minimum balalnce of 10000 is maintained in saving account.

You can create a linked FD for Rs.15000 and apply a retail application. That will gives a good hands on experience before any shifting of bank.

The maximum rate of interest is 7.6% for 15 months.

I hope above answers is sufficiient and if you have any queries,let me know.

@KGSKIPO:
Thanking you for your feedback. Very useful information.
🙏

​@Rohan Bajaj , here you go ..
You have a co-applicant at 39 lots.
So, chances of allotment still alive for you.

Thank you for update @GrayIsTheNewBlack 

By the way how many applications you applied at 39 lots @Nitin oswal

2 application of 39 lot

Now afraid I'll get allotment due to other co-applicant as well... Life's never easy 😂

TRUE

1 lot alloted in 36 lot application