Polycab India Limited IPO Message Board (Page 16)

that rule has not been executed by banks yet..so u can expect allotment if u r lucky enough..

Thanks for detailed post
If i understand what u suggests,
Subscribing ipos through banks directly doesn't need upi? Even after 30/06?
3rd party banking out ofthe way?
Even from this ipo?
If both answer is yes,
Kindly post ur views
Thanks

As par my knowledge
Sebi circular regarding ipo
Is/was to reduce time
If that so
If bank take physical forms from us with blocking amount
Hey have to send all forms to upper end(branch to h. O to registrar ) and thats taking so much time
By upi
Only database of particular banks goes online
No physical transfer required of the ipo forms

Dear Harit,

UPI is mandatory only for folks submitting physical forms to their brokers. Rest of the folks (Online ASBA, Offline ASBA form directly submitted to bank, using 3 in 1 accounts like hdfc etc and applying IPO from hdfcsec or etc) do not even need to create a UPI id. The process for such folks will be Business as usual.
Refer below in the SEBI circular at page 3 that clearly means what I said above. Channel 1, 2 and 4 are channels that i mentioned in the bracket.

"5.2 *For Phase II and Phase III, the RIIs will have the option to use only Channel I, II and IV for making application in a public issue."

See the whole point of this change is to reduce the IPO timeline to 3 days from existing 6 days. Upon review SEBI finds that there's only one channel (i.e. submitting physical firm to brokers) is coming in the way. This is the only channel where funds dont get blocked immediately, where there are so many manual intervention take place. So they want to make this change for this channel only. They are not here to promote UPI :).
They have absolutely no intention to make UPI mandatory for whole retail investor category and make life cumbersome. Other channels like online ASBA etc will continue as funds get blocked instantly and not much manual work is involved.

3rd party bank account is surely not allowed effectively 01-Jan-2019. But I think neither the banks nor the registrar have implemented this rule. But it will be implemented surely in future slowly as it requires software update at bank and at registrar end. This is confirmed as many people have got allotment in mstc, rvnl and metro even after applying from 3rd party account. I myself have got allotment in metro applied using 3rd party bank account.

I think the existing channel for submitting physical forms to brokers is main villain for manipulation of oversubscription of IPOs and delays. Often we can see even after mandatory cut off time of 3.30 on the last day people rush with applications depending on the gray market tips. This is quite visible from the final oversubscription figures . SEBI should stop this practice and provide a level playing field to one and all.

Thanks
Ur post will make my life easier
As i am running 8 different account with dmat attached to it

Well if that's the case (upi not mandatory) then it's good.

Hey

Can you please provide the link for this circular ?

Thanks

Bro Polycan and Metro kitna par list honge, aap ka andaza sa..

Because aap ka andaza ek dum bang on right hota ha.. :-)

As earlier mentioned, at least 100 rupees gain in polycab and about 10% profit in Metropolis will be there on listing day.
Thanks.

I already knew that people are spreading rumors. Thanks for confirmations.