Know some one who applied for 46000 shares in HNI Category and was allotted the entire quantity of 46000 shares inspite of the HNI being oversubscribed 3.44 times. On enquiry with Lead Manager they informed that the persons close to the management who had applied for two and half times the HNI and other applicants did not bank their applications for blocking of funds and as a result the HNI was UNDERSUBSCRIBED. Big market manipulation and shady people. Beware of Aryaman the LM and the company. SEBI should be looking into this malpractice.
@jonam, "the new ID created with no previous history of posting", can you please share the link for the news you posted. Will be happy if some thing of this interesting happens to be true.
Issue size was 43,00,000 shares. Of this 21,50,000 shares were for retail investors, 4,30,000 shares were reserved for QIB and 17,20,000 shares for HNI. Allotment done for retail is 31,05,280 shares and 6,18,400 shares for HNI. HNI was oversubscribed by 3.44 times i.e. total of 59,16,800 shares were applied. Eventually 52,98,400 share applications were not banked with the banker for blocking the funds for ASBA. See annexure II in this notice of listing by bse:https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20180328-42
134.6. Jainvipul| Link| Bookmark|
March 29, 2018 11:35:38 PM
Top Contributor (400+ Posts, 300+ Likes)
Qib achha nahi subscribe nahi huva isliye hni walo ne app withdraw kar li hogi.isliye baki sabko pura mila hoga
hello i am a new in this field. i applied for karda construction ipo thru hdfc securities and my full amount is blocked yet but i have been alloted already 80 shares only. why this amount is not getting freed. can anyone let me know please. thank you in advance
Can somebody guide me what does it mean???Karda Constructions Limited (IPO) shall be listed and admitted to dealings on the Exchange in the list of 'T' Group of Securities Monday, April 02, 2018
the scrip will be in Trade-for-Trade segment for 10 trading days
How allotment works? ...lol! ..That's a real rough one.....One night succed in knowing how the universe works...But these IPO allotments? No...Investors cant evolve enough to tell that for at least the next 500 years...
Thanks but i am not joking.. I have been hearing many comments that First apply will get allotted first or The Portal we apply will have some preference or Every pan will be given one allotment first and then goes to second...
With my limited knowledge, let me make an attempt to answer your query as to allotment process. First is technical rejection and next process is reconciliation of application and application money. Then the number of subscription to determine how many times the issue was subscribed . Then determine the basis of allotment in consultation with lead managers and company representatives. After fixing the basis of allotment feed the ratio to the allotment software that has the information of all applicants. And run the software programme It randomly picks the fortunate allottees . When the process is complete list of successful is prepared and sent for concerned exchange for approval ,then the board approval and after blocking and unblocking of accounts is the next step .