I want to do some experiment by applying and ipo through UPI mandate > approve it > and than cancel it to check how fast the amount unblock and specifically in SBI bank. I was ready to bear listing loss if anything went wrong hence went with retail in place of usual HNI.
Hence I and my brother applied retail application with Groww & Dhan broker > approved the UPI mandate with SBI Bank> cancelled at 3 PM on last day. Still amount was not unblocked and strangely received bidding confirmation mail from NSE in the night.
Now today when I checked the allotment on linkintime. Both those applications has been allocated.
I wonder the reliability of these new age discount broker.
Sir Things are more stranger than what you are narrating here especially with Linkintime. I applied application with 11700 shares in SHNI section which oversubscribed to 2.03 times. Even if it is taken as 2730 is lot size then my application was 4.28 of SHNI. Still no allotment. if my application is over and above oversubscription then why 1 (2730) lot is not allotted. what are the rules. I HAVE NEVER GRANTED ANY ALLOTMENT BY LINKINTIME.
366.2. sdz| Link| Bookmark|
August 8, 2024 8:30:42 AM
IPO Guru (1200+ Posts, 500+ Likes)
Rakesh. Shni category oversubscribed application wise too and so allotment through lottery only irrespective of how many more lots u applied
366.3. UjwalG| Link| Bookmark|
August 8, 2024 12:03:10 PM
IPO Guru (1300+ Posts, 600+ Likes)
@indiefluence ♾ As far as i have experienced, once you cancel the bid after accepting mandate, your money gets unblocked only on allotment day and not prior to it. Second, broker is responsible for withdrawing the application, maybe some broker has cutoff time after that they cannot withdraw. I tried in zerodha once at 3pm or so and it succesfully withdrew. Also application submission and withdraw shld be in market hours only.
1/2-Retail, All the best for all, it will take little time to make profit here
361. Iranna| Link| Bookmark|
August 8, 2024 10:42:47 AM
Top Contributor (300+ Posts, 200+ Likes)
Received 1/2 retail. Deliberately applied retail instead of sHNI due to this company news. With the kind of market mood today, best wishes for all allotees
361.1. Chhote Lal| Link| Bookmark|
August 8, 2024 11:23:10 AM
IPO Mentor (5800+ Posts, 4100+ Likes)
@Iranna True, many big players shyed away from this counter. Let's see the listing levels now 🤞
360. Sharvam| Link| Bookmark|
August 8, 2024 8:50:39 AM
IPO Guru (1300+ Posts, 800+ Likes)
46 Lakh New Demat Accounts Opened in the Month of July, 2024
Total Reported Demat Accounts Now Stands 16.70 Crore, That's indeed a HUGE Growth!
360.1. Chhote Lal| Link| Bookmark|
August 8, 2024 11:21:06 AM
IPO Mentor (5800+ Posts, 4100+ Likes)
@Sharvam Active users are about 6 to 8 % of total population. There is long way to go. Imagine, how difficult the allotment will become when this number grows further!
352. sdz| Link| Bookmark|
August 8, 2024 7:35:51 AM
IPO Guru (1200+ Posts, 500+ Likes)
Couldn't control itching and applied at 3.20pm last day. And shockingly being as usual Linkedin (which presents discount listing ones to everyone) it gifted me 2/2 sHNI when i expected 1 😂
Will wait for a year or 100, whichever comes first 😜
@Manoj Dwivedi Its very good if you see gmp..you may buy it below issue price. I was allotted paytm which could not reach its despite all the bad actions.