I had applied for 9 lots via ICICIDirect, but didn''t get any allotment. Any idea why this happened? Is there any process to raise query for allotment process?
This is a single application. And as per new rules, one lot is allotted to each successful investor in lottery Irrespective of how many lots you applied for.
Primafacie this should not be right. Retail subscription only 2.14 times. Atleast one lot you should be getting. Check if your cheque got cleared if yes, try writing to the R&T Agent, to find out the status of your form ie if there were any technical reasons for rejecting. Normally they may not reveal. But if you are lucky & persuasive, you can get a scanned copy of your cheque / form along with the reasons for rejection. Otherwise I see no reason for your rejection. Maybe R&T can explain better.