I have started applying for IPO lately (Dmart, Shankara, S.CHand and Hudco). I have not been allocated any lot in Dmart, SHankara and S.CHand. The message as per my Kotak Bank ABSA is "Rejected by RTA". I want to know that is it a normal rejection. I mean when one dont get allotment of shares in IPO then this is the message one receive - "Rejected by RTA". FYI, RTA stands for Registrar and transfer agency. Please guide. Thanks in advance!
In case of any discrepancies in the PAN number provided to the Bank while applying Public Issue/Rights Issue and the PAN provided while opening DP account, such applications shall be rejected by the Registrar and Transfer Agency (“RTAâ€) and the Bank shall in no way be responsible for such rejection.
Thats normal in Kotak mahindra asba. I also used to get very worried by seeing that message when I did not get allotment due to oversubscription. There was nothing wrong with PAN or demat account. Its just Kotak are idiots.
Ohh Boy! We have almost all the characters of "Bahubali" in this forum. Right from Bahubali, Katappa, Bhallal Dev...and so on. Only DevSena is missing :)