After unsuccessful allotment in Equitas, Thyrocase , Ujjivan, MGL, Quess corp, L&T, SP Apparels, RBL.. finally i got allotment in GNA Axles.. Applied 1 got 1. Thought i would make longest streak in unsuccessful allotment.. ;)
@Karthick- No trick... if i knew the trick i wld have got allotment in all those IPO.. this allotment is received after 8 unsuccessful allotment...I strongly believe its pure luck.. FYI- i applied on last day in afternoon ..
There is no magic once the issue is oversubscribed. It is pure lottery. Whether you apply on the first day or last day, you use SBI or ICICI ASBA makes no difference. The successful applicants numbers are picked out randomly by computer generated process. There will be a SEBI rep and a rep rom the public to ensure no hanky panky goes on. It is but natural to get frustrated when we don''t get allotment particularly for an issue that has seen huge oversubscription. Eg GNA Axles if the oversubscription by number of applications is 9 times one in 9 applications will get allotted. Sometimes by pure chance, 2 out of 2 applications may get allotment or none from 7/8 applications.
Be happy when we get alloted.
Since the ICICI pru IPO is not heavily oversubscribed hopefully all will get shares allotted.
I second that Mr. Prakash.. we can keep applying bcz there isnt any harm in applying 1 lot in good ipo.. n even if no allotment - we have our money.. if there is allotment then more money.. ;)
u would never know what process is followed during lottery process. what they do is they would get their employees confirmed allotment thru lottery and sideline shares when there is confirmed premium. only a few would there get allotment. that is maybe 1 out 30 as shares are sidelined. this is common practise with linktime. i also wrote to sebi regarding the commercial sync bags ipo where in a single family was showing all 5 alloted in same sequence number form and others who applied 5 or 10 application got null.
it is sad there is no fair policy on how lottery system works as u never know they would give shares to their relatives , friends,employee and sideline shares
however since linktime came this is now happening frequently. something is fishy.this we have bring to the notice of the SEBI AND PUT THE LINK IN TIME IN BLACK LIST IMMEDIATELY.Investors are loosing faith in LINK IN TIME.E
u would never know what process is followed during lottery process. what they do is they would get their employees confirmed allotment thru lottery and sideline shares when there is confirmed premium. only a few would there get allotment. that is maybe 1 out 30 as shares are sidelined. this is common practise with linktime. i also wrote to sebi regarding the commercial sync bags ipo where in a single family was showing all 5 alloted in same sequence number form and others who applied 5 or 10 application got null.
it is sad there is no fair policy on how lottery system works as u never know they would give shares to their relatives , friends,employee and sideline shares
however since linktime came this is now happening frequently. something is fishy.