Hyundai Motor India Limited IPO Message Board (Page 23)

Its regular. Before deduction, they will remove lien and then deduct.

Aapko share allot nahi hue kya

Aapko share allot nahi hue kya

​@rkgupta Paise kat gaye hai allot ho hi gaya hoga, abhi allotment ka msg nhi aaya hai

Lower band is of no use. It's for formality.

​@MiteshP You did not get allotment because company decided the price at high end of price band..

Lower band, or any price lower than upper band becomes relevant only when issue fails to get 1x subscribed overall, but crosses the 90% threshold.
Then company and LM decide one of the following:
- reduce the IPO size by cancelling the unsubscribed part, thereby getting 1x subscription
- allot shares at price bids below upper band
- reduce the price band, and extend the issue (this can be done even below 90% subscription)
- withdraw the issue (usually only when subscription below 90%)

This issue was overall 2.37x subscribed (before cancellations and invalid bids), so there was negligible chance of reduction of allotment price.

Thank you @ValueSeeker