Because the amount is decided as per the amount the majority of the bidders bid at. As this Fpo in totality was subscribed more than 1X and Max bidders bid 650 therefore rate 2as decided at 650. Lastly even if they had been under subscribed, they would have started reducing the amount by 1 rupee at a time. Therefore getting a rate of 615 was impossible..
Please for the future as a retail investor click cut off, so that in case they ever reduce the allotment amount, you can get allotment and your balance money back.
Allotted two lots. Not going to sell below 900 whenever it reaches. Meanwhile will buy more if lists below 650 ( same strategy I applied in adani Wilmar)
I applied by upi , amount was blocked successfully. But still I didn't get allotment!! When subscription was low in retail, how did my application not allotted??
I appreciate your guts. Being bold when you believe in something irrespective of what other people saying is great investors like Munger trait. I aspire this aspect. Though I don't believe there going to be big pop till it settles. Wish you good luck.
Dear @lokes, I will be buying this all remaining refund money & surplus during listing day anything around 750 and it will stay with Adani group of shares for very long term in my portfolio. All the best to you and all those allotted as well.
I applied in 4 accounts through sbi online .today for allotment check i found in ipo history lein failure.and in link tine its showing no record found.whats the reason??