Sapphire Foods India Limited IPO Message Board (Page 8)

I do it from SBI..

I got Nykaa via third party ASBA in BOB. When did it change?

i think already registered members are allowed to apply from BOB as 3rd party ...

now they register only with PAN which we cant change... so due to no edit option in PAN we cannot register other member name...

@anit: you can use third party asba applications in Yes Bank, rbl bank, sbi bank, axis bank, indusind bank.
For already added applicant you can apply ipo in bob but you can''t add new third party applicants.

@lokes and others,

Can somebody point me in the right direction about this 3rd party thing.
Some says, it is not allowed, some claims they got allotment from this only.

Is it IPO specific, then where can I find this info?
If it is generally allowed for all IPOs, where it is mentioned.
Just because some banks allows it, can''t assume that it is allowed.

Please help.
Thanks.

@GJ: If you can trust me, then third party asba bank applications are surely allowed in all IPOs with all registrars and alloted also as per regular lottery. Ignore all such posts and don''t get confused.

@lokes,
I trust you man, no doubt on that part.

I even followed your PhonePe for UPI advice and faced no issue till date.
Thanks again for confirming about 3rd Party ASBA.

Quick question,
Do you or other big players who apply from multiple accounts (mainly retail ones) uses this 3rd party ASBA feature only?
Or any other better way to manage this thing exist?

@GJ: yes everyone including me uses third party asba for applying for multiple retail applications from various banks. No other way. 1-2 may be upi application for family members etc.
And before you ask, I have allotted many times in retail in third party asba applications from different registrars and in all kinds of light to heavy subscription IPOs. In tatva chintan, I got 2 from 4 in sbi third party asba and in many others and didn''t any in many. It''s all pure luck, pure lottery, nothing else....don''t believe on any registrar fraud etc in allocation.

Quite a impressive anchor book.. Morgan stanley india, abu dhabi , govt of singapore , hsbc global.. are the big names.. and sundaram mutual fund participate through different schemes .. they have a excellent past record..
One who has a capacity of 100 to 200 lots should apply in this rather than latent otherwise u might end up with big zero.. latent surely gonna cross 300.. i m applying in this from one ac.. hoping few lots against 270.

Yes indeed, Govt of Singapore, Fidelity investment, Sundaram have got max share allocation. Even the Indian biggy Insurance sector companies have shown interest. Chances of allotment will be definitely more here compared to latent ipo but have to see what''s last day hni subscription and how much GMP increases. Also, By then(11th) we would start getting how latent is progressing.

I did not know that KFC and PizzaHut owned by same company.
and I seriously did not know that they are still at loss.

Some time back Dominos leaked their data and one link was available. If you clicked on that link and searched using your mobile number, it showed the amount spent on Dominos from that number. Through that link a came to know that my family has eaten pizzas of 48500/-, and to add to it, kids used their numbers too a few times.

@Noorul.. If you think of any changes in your last estimated subscription figures for current 3 IPOs, please give new estimates at EOD.

I feel like they should''ve priced it around 800-900 to leave something on the table for investors. It''s OFS only which is another negative. It would have been better if the company raised some money to pay off its debt and for expansion.

GMP for
Paytm 2%
Sapphire 10%
Latent 100%

Easiest allocation decision? 🤔🤔

@ mog .. all ur points r correct and dats d reason gmp is only 10%. Otherwise it would b around 25%
@ avenue.. 2 changes i think could b made.. First paytm dont look like even touch 6x. . and latent will cross 360x wd gmp of 120% at present. And u really made a brave call as u said going to apply 350+ lots for paytm.. deserve round of applause 👏👏😂

@noorul ji - Any change in your strategy now that it seems Latent might cross 600x?

Many factors may be behind failure of mega PayTM IPO subscription, additional unmentioned reasons may be company with major chinese investment (this factor played significant role in poor subscription of Gland Pharma, what happened then is another story), & also overlapping near perfect IPO of LATENT.

Lagta hai jaisa LATENT Paytm ki HNI subscrition (with FF) kha gaya, waisa Sapphire ki HNI subscription bhi kha jayega.

@noorul @lokes @jstm @MRavi @sdz @iamnimitshah and others.

The ultra-low subscription of PayTM means we shall have to rework the allocation towards Sapphire / Latent ... remember I had quoted an extreme figure of <10X for Paytm and 900X for Latent .... the first part is done ... while 900x is very far off as of now ... what if it does a Paras and go 600X+

All depends on what the HNIs and "FUNDED" HNIs do with Sapphire Tomorrow. Would love to hear what everyone is thinking.

@Iamnimitshah Please update on the interest rate and leverage offered for Sapphire & Latent.

@Noorul... I disliked Paytm IPO from the beginning as a declining company and for the IPO Sound and Hoax it created. 350 Lots for Paytm IPO sounds like a joke now, I did not apply even in Retail. I also said that Paytm subscription will surprise all who were estimating 10x subs. I hope none of us has applied in Paytm as I feel it was slip downward if not fall. I think Investors are keeping there pockets full for Latent and HNI subscription will cross 400x easily.

What are your views for Sapphire for longer term, not listing gain??

Guys - Do we think that with Tarsons coming into fray, we will see lower HNI subscription (~200 X) in Latent ?

Paytm proved to b ''train vali chai'' .. This time hnis r playing very smart.. the way they well left the paytym its looks like they r all set to spoil out party ones again.. all my hni friends sdz, lokes, avenue ,mog, m.k, jstm,niteen n others b prepare... Its time to play lottery :) funded hnis r targeting it heavily.. subscription will cross 500x.. i m 100% sure about it.. only mravi hve potential to put latent in pocket without any sort of trouble.. i have no extra ordinary strategy here.. will apply 380 lot n pray that subscription won''t cross that figure.. and that looks unreal..
@avenue.. for longer term nykaa n latent looks more promising than sapphire..

Ya Noorul...After selling Nykaa at 10.05am, whole day this allocation puzzle is the only thing running in my mind from 😂😂

Where is Nykaa''s max share of HNI 90k cr going to.... Latent or Sapphire/Tarson combo?

Still thinking How about going full 320 lots in Sapphire and if my slow Yes bank refunds before 3pm on 17th then will forward the baton to Tarson 🤔😁

@noorul

It will cross 500x easily as funded HNIs are targeting only Latent and leaving Sapphire alone.

I would have for about 450 - 500 lots.... That also might yield no results. I''m now seriously considering Tarsons as an alternate. If HNI crosses 500x, then I might just do retail applications and wait for Tarsons... Cos Tarsons won''t have the funds blocked in Latent.

@sdz

I''m thinking along the same lines 😉

@MK... If you, having funds for 500 lots thinking to skip Latent, what should i do with only 320 lots capacity 😂🤣. But still doubtful if Latent can do big like Paras 900x=(17k cr only) as Latent is 5x size with 90cr HNI. Latent 500x=45,000cr

Tomorrow if Sapphire HNI < 30x @2.30pm, then sure that most HNIs are targeting Latent and we can simply apply for Sapphire leave hope on Latent 😜

@sdz

I''m gaming different scenarios to see what would yield max profit. Its not necessary to go all in for the best ipo out there (latent) where there might be an application frenzy.

Less than 30x HNI in Sapphire will yield 500/30 = 16.67 lots = 16.67x12=200 shares... Assuming Rs 80 premium per share on list date ... It would give a profit of Rs 16,000

Assuming 500x of Latent... It would give 1 lot of 76 shares... Assuming Rs 220 premium... It would give a profit of Rs 16,720

So, both are evenly matched assuming 30x and 500x

In Sapphire, we get funds free for Tarsons also.

In Latent, I''m fairly sure of 500x +... Will take a call seeing the Sapphire subscription tomorrow.... If its a damp squib, then will skip it as the GMP will also collapse... But a good healthy subscription but below 25x will tilt it in favour of Sapphire for me.

For long term we can always add latent from the secondary market. I plan to do the same with Sigachi too.

Correct me if any of my assumptions / calculations are wrong.

@sdz

Also, the heart wants what the heart wants.

Chahiye toh Latent hi... Sapphire nahin chahiye 😂

Will track Sapphire tomorrow and decide.

@MK,@sdz,@nurool,
I can apply only 100 lots in hni,although Sapphire allotment is easy than Latent,wont that be risky considering hni targeting only Latent and Tarsons,Sapphire pure OFS,even less than 10% premium,probably less than 30× QIB and less than 25× HNI,highest CPI(6+) in US after 1990 and looming interest rate hike by Fed probably in near future despite strong anchor books in Sapphire?
Dil to chahta hai Latent but superb tough allotment (probably more than 100× retail and 500× hni).
What should I do? You experts plz suggest something, some innovative idea to get Latent allotment,thanks

@MK,
You are spot on.
I am also thinking in your way man.
Today Sapphire will be watched closely and decision will be made accordingly .
Thanks we are learning great here. Please keep posting.

Fortunately, last week going FF in Nykaa by ignoring Sigachi (300x+ expectations) worked well with whopping 80-100% return on higher allotment too (2x than expected).

This week, very tough to ignore Latent (120% GMP) for Sapphire where just 10% GMP is expected. If Sapphire numbers also run high >50x by 2.30pm then it''s better to try luck in Sigachi atleast who can apply minimum 200-250 lots. I think Sapphire retail will do 2-3x than Nykaa''s 8:1 application wise, so not easy there too

@sbiipo

If u have funds for 100 lots, then apply latent in retail for sure. Applying 100 lots here not only block the funds unnecessarily but leave u high and dry for Tarsons as well.
For Sapphire, track the subscription... If its a damp squib, then apply Retail... Else, u can look to deploy the 100 lots these.

@sdz

2 uneven matched ipos is what is causing the conundrum.

On a lighter note, chai pi lo bhai... You have mentioned applying for Sigachi again 🤣

@sbiipo

Another option of u really want to increase chances for Latent.

Look at the sapphire subscription at 2.30... S ay it''s 25x in hni... Then apply for 35 lots. This will give u 1 lot minimum for this.

Rest 65 lots can be deployed in Latent which will give u an approx 1:8 chance of getting 1 lot. But, these funds won''t be deployed in Tarsons.

It''s confusing I know... Even I''m thoroughly confused as to what to do 😂

Estimated HNI subscription please?

@lokes, @noorul and others,
off the topic, ''Sansera'' is rocking today after the results. those who still holding, what''s your analysis of the results.

thanks

@sbipo: replied you in other forum
@sdz: in paras it was around 24K crore not 17K crore from HNI.

And as per my thinking, sapphire will have lower subscription in HNI, say around 20X-30X only or may be less.
And in latent view, i feel it will go around 300-400X , i think less chances to cross 400X and less chances below 300X. even if it will go 450X suppose, 400 lot application should fetch one lot mostly.

@MRavi: i am still holding it sir and i will keep holding until 950-1000 levels, results are really great and automotive sector is seeing growth now in sales, so this will also be benifitted

@lokes,
thanks, yes absolutely, it will be like Sona in performance by next quarter (once the automobile issues resolved and getting back to full productions)

@lokes, @MK, @Dineshsiggh, @sdz, @noorul, @avenue, @mogpunisher
Thanks for your expert views on Sapphire and latent. For me for the time being 25% Sapphire and 75% latent. (may increase in Sapphire at last minute after seeing HNI as this will make fund available for the Tarsons)

@jstm,
where are you?

Thanks

@mravi still holding sansera for long term...good results

@sdz @mk I''m also thinking on the same lines.......
If i apply in sapphire, it will be quite dicey on 17th as the refund may not come in time but if the refund comes, it would be a better bet than Latent only. Risky bet though.
Applying in latent would be choosing only 1 out of 3 ipos.
Personally, I want to have more exposure in Latent than sapphire. Tarsons also seems to be very good. Preference fundamental and sector wise is Latent>Tarsons>Sapphire.
What an unusual dilemma we are facing 🙃

@MRavi,
I think Latent will be in the range of 500 to 600 in HNI as per the sources in HNI Fertility.
For Sapphire, no one is sure until 3 PM today.
Your strategy seems to be correct Sir...
Thanks for sharing.

@MRavi: Just one advice, just suppose if HNI doesn''t crosses 10X by 2.30pm in sapphire then i think dont go with 25% in sapphire rather you can keep those funds with you instead risking in sapphire. its not compulsory to use all available funds in sapphire/latent, even if we can use sapphire funds in latent because sapphire may deceive on or after listing and may give loss in short term if not sold on right time. So I mean you can try with 10% of your funds in sapphire, 70-75% in latent and then remaining 25-30% (including sapphire one) in tarsons.

And for everyone, if having more than 450-500 lots funds available (at least i don''t have that much) then i feel, keep only 20% for for sapphire and remaining for latent view and again if sapphire doesn''t have good subscription by 2pm, then even no need to block that much in sapphire, it may go down after listing. Then, in that case, by tomorrow we can choose/decide how much to put in latent to get 1 lot and how much to keep for tarson.

@lokes,
I fully agree, I may reduce to 5-10% if its less than 10X, if its 20X above, I will keep 25% for Sapphire. I will also watch out what QIB will do by 02:45 pm.

@mog,
I see you have a valid points.

@Dinesh Singh,
Latent 500 to 600 X is too much. may be 300-400 reasonable. any way that''s tomorrow. We have to wait before 3 pm to know how Sapphire going to go and take a call.

Thanks

@lokes @mravi @noorul and others
Go Fashion is opening on 17th and closing on 22nd November.
So basically we have 2 options for self-funded HNIs with limited funds keeping fund unblocking in mind -
1) Sapphire + Tarsons
2) Latent + Go fashion(Haven''t checked out the financials.....i''m just assuming it would be good)

Sapphire subscription isn''t looking too good at present....if it disappoints, i think it would be better to go with Option 2.
What say guys?

@Mog: 95% chances are there that sapphire funds will be available to use in tarsons by 2pm last day.
And i have given my strategy how to utilize the funds who are having above 450-500 lots and already told today morning itself that sapphire may not do good in subscription as well as listing/post-listing so better to skip that instead of stucking money there and getting into chances of negative returns even if it is subscribed by 10-15X in HNI that too may not be possible i feel.
I think there should not be any dilemma :)

I have three accounts with funds for 500, 40 and 30 lots. As of now my thinking is go FF in Latent with 500 lots, and 40, 30 lots for Sapphire and/or Tarson. Sapphire subscription may disappoint us so may skip it.
I know the fact that Latent funds can not be used in Tarson, but have feeling to take that is available now and don''t plan too much for future.

Experts advise Please...

@lokes Yeah thanks...I was also leaning towards latent and now that there is another ipo, it has become clearer.

@Mog: my strategy would be same as i said in above post.
Means use money in latent and tarsons as per available funds, instead of using in sapphire and then latent money we can use in go fashion. Simple.
And as i said, i think no need to put everything in latent if someone having 450-500 lots or above, tomorrow can be decided how much to put in latent and how much to keep for tarsons. And i feel 400 lots should be more than enough to get 1 lot in latent, even 300 lots also probably (with 75 to 100% chances)

Remaining anyone can decide as per own thinking/risk :)

@lokes Very valid points and we''ll summarized.

@MRavi As of now, Sapphire seems to a bad squib. It wouldn''t make sense to apply at all in Sapphire in that case. It''s not necessary to apply in each and every IPO. Take an informed decision at 2.30-2.45 pm

Also, if Sapphire flops, then Latent will be 500X+ for sure

Also, another EXPECTED GOOGLY is Star Health... It might just pop in and complicate the Tarsons application. 🤷

@M.K,
noted your point. However, I already made up my mind and applied in one HNI account for 85 lots. (my personal opinion only: this may list 10% best case, worst case just below par. I wanted to take risk as these companies like Devyani, Sapphire, Zomato are going do well in long term.)

I will wait for other HNI account whether to skip or not by 02:50 pm

Thanks

What HNI Thread...😜 I am not gaining confidence to apply even 4 retail application. MRavi Ji''s application of 85 lots too have not helped subscription figures to move beyond 0.66x.
Is anyone else applying in HNI/RII category?

@Avenue,
😂

@Avenue,
your questions being answered by some HNI''s 😜, now 0.75 X

Thanks

@avenue

Applied 15 lots just now (Mininmum subsciption of HNI Category).

HNI finally crossed 1 as per Edelweiss Portal stats.

Note: I applied for 35 lots yesterday itself

Yes.. 1.78x now

Total avoid from my side. Not even retail applications.

Markets are anyways volatile... A low GMP IPO would list negative if anything goes wrong... As of now the GMP is a measly 4-5%... Doesn''t make sense to apply now. Just my 2 cents.

Beat of luck to all applicants.

@MRavi Have u applied from the 2nd account?

Saw HNI 1.8x and applied 30 lots hoping it''ll be Devy and Devil 😂

@1453 confusion still rules. Should the available HNI amount go into Saphire or better to wait for Tarson 😊. Or tarson via Saphire...
Already done with Latent allocation.

@avenue, and others
another 40 lots through other HNI account applied.

Thanks

@M.K,
yes, I did in 2nd HNI 40 Lots only.

Thanks

Applied 15 lots @ 2:52 pm. Its Rs.2,12,400 which is lowest for HNI category. I just want around Rs.50,000 worth of this stock.

Right now HNI Oversubscription is 1.23x which comes to approx 1.73lac. I am keeping my fingers crossed and hoping HNI Oversubscription crosses 4x by EoD.

@Nexus,
chances are less, it will be around 3X max

Thanks

@nexus and everyone: as per my thinking, it wont cross 4X even, i know around 1 hour is left but still it wont cross 4X i feel. There are several reasons for this.

@sdz/@MRavi: as i told in abcl too, my friendly advice in sapphire would be to get out on listing day with whatever profit/loss and then you can enter again at lower price f for long term if you want. Like many other recent ipos, it will go below issue price for sure after listing in some days or some weeks.

Remaining as i keep saying, everyone can decide as per own thinking/risk :)

Applied for 15 lots in 1 HNI application finally, was waiting for it to cross 2x.

And to my surprise ICCIDirect accept HNI application after 3 p.m. (at 3:08 pm), as I was under Impression that HNI application cutoff time was 3.00 pm.

Can anybody tell how???

@MRavichandran 3x would translate to Rs.70800. Can leave with that too!
Above 1 lakh gets a bit scary for low GMP IPO :)

@nexus you will get of rs 1lac

I think lackluster HNI subscription in both Paytm and Sapphire is not completely due bad fundamental and high pricing. Policy bazar and sigachi also saw less subscription from earlier assumed figures. In some way it is also due interest cost increased by NBFC. Due to that now HNIs not getting much funds now.
The earlier IPOs saw high subscription numbers coz there was flood of funds. I think now funded HNI bubble got burst and we will see some normalized subscription figures in coming IPO till again interest goes down.
So I assume for all next IPO like latent, tarson etc. figure will be on lower side.
For latent people saying figure will around 500x but think it will be around 200x.
I am just a human, so I may be wrong in above mentioned view of mine.

@ Avenue ,
since the subscribtion figure of ICICI direct were low , they kept their software open
so you were lucky other wise cut off time time is 1500 as per my knowledge

@BK Singhania

already HNI is at 2.23 so it will be less than 1 Lakh for sure.

depending on final subscription it will go down further

@M.K. Skipped applying for saphire from the 2nd HNI a/c for the possible "EXPECTED i Star Health...GOOGLY " mentioned by you. 😊🤞

Took biggest risk of my life. Applied 87 lots. This is my FF capacity.

@chemcho

ICICI sent email saying they will have Window open till 4:30 for Sapphire

Note: Even for Paytm they did the same

@B.K. Singhania : Yes that''s what it seems like right now (212400/2.16=98333.33). Will have to check @ 4:30 pm after which subscription numbers are pretty much frozen.

Most HNI''s have reserved their funds for Latent. Also many Gujaratis/Vegetarians won''t get into this (or Devyani, BBQ Nation for that matter) due to the Non-Veg issue.

Due to low GMP, HNI section is mostly self-funded, hence no selling pressure on listing day. Its less likely to list at heavy discount.

@avenue: somewhere i heard upto 3.30pm in icicidirect in HNI, i dont have account there, better you can ask customer care once to confirm.

@duckky: ya there are other reasons also for less subscription in sapphire/paytm. Anyways for latent, i feel, neither it will go 500-600X nor below 200X, i am still on my view as said today morning and ya i am also a human ;) :)
Pasting again from my above comment.

"in latent view, i feel it will go around 300-400X , i think less chances to cross 400X and less chances below 300X. even if it will go 450X suppose, 400 lot application should fetch one lot mostly."

Gave a skip in HNI
Will reserve all 200 lots fund for Latent and Tarsons(9:1 ratio)
Thanks!

@Avenue: I also have ICICIDirect account.
I spoke to Customer care around 3:15PM and they said it will be open till Market closing time i.e 3:30 PM.

However, I just applied 1 Lot in Retail around 3:40PM. Not sure why software was open beyond 3PM or 3:30PM

@AVENUE

ICICIDIRECT CUT-OFF
HNI - 3 PM
RII - 4.30 PM

skipping this totally as i''m not happy with the price, financials, huge ofs and the fact that investors who are selling their stake were offered shares for less than 50% of the current price a few months back. It absolutely does not make sense.
Apart from the above factors, the subscription figures are a deal breaker for me.
Will hold devyani.

@lokes,
your point ''selling on listing day'' is noted. I gone around 3% only in total through both HNI accounts for Sapphire. kept all for latent tomorrow, then will decide.

@nexus,
keep your spirits up. now worries. Hopefully, it wont list at discount.

Thanks

@nexus,
typo. read as ''No worries''.

Thanks

@MOG We are in the same boat again :)

@SafeBet The Star health Googly if it comes , might impact Tarsons as its refund may clash with the Star Health closing dates ... not this IPO.

Anyways, everything happens for a reason. Deploy these funds in Latent tomorrow if you so wish.

@DownriteVJ.. I was also under this impression. But today I have successfully applied in HNI at 3.08pm at ICICIDirect. Order Book says Executed. They can not have different cutoff times for different IPOs. still confused as HNI cutoff time is critical.

@Suneel... In earlier IPO I could not apply even at 3:05pm in HNI category.

@Chem cho.. lucky or unlucky, time will tell.. I clicked assuming it will be rejected, but was lucky/unlucky....

posting this message by untick "Track replies" option to avoid further mails.

Now sapphire is flop show and skipped by most and if we have to choose between latent view or tarson.
- I am expecting LV HNI to be ~500x +-30x and tarson to be 150x +-30 .
- listing - LV -350 plus premium (GMP - 300) . Tarson - 200 plus premium ( GMP 175)
- profit if applied 500x lot in each -> LV - 350x76 =26.5K. Tarson - 200 x 500/150 x x22= ~15K

so better is LV and skip tarson? but if

Had never been in such a confusing situation before.. n finally took a call and let it go.. didn''t applied not even in retail.. applied 380 lot in latent.. all the very best to all those who applied in it.. @ duccky .. u take a bold move.. with ff..
@ mravi sir .. u hve to becaz u r d one who is enjoying ipo d most 😊.. @ sdz u really need a break.. it''s not sigachi.. 😂..
@ avenue.. lets make a practice of it.. will b many more times in near future.. n what would happen to someone who accidentally click that down button of our thread 😅..
I hold my another ac will apply in tarson from that... Has a gud gmp of 25%..

Latent will cross 500x in hni.. no if no but..
I Repeat Latent will cross 500 mark.

Finally HNI at 3.46 , so expecting 10 Lots of shares from 35 applications.
My 2nd Bet in HNI after ABSL AMC.

@m.k. yet again 😁

@noorul Nowadays with high interest rates, funded hnis will only target high gmp ipos. Even i expect Latent hni to cross 400x considering the fact that mostly all funds will be available tomorrow.

@noorul: My view in your language 😀 baaki kal dekhte hai.

Latent will ''not'' cross 500x in hni.. no if no but..
I Repeat Latent will ''not'' cross 500 mark

@Noorul,
hahaha, yes absolutely. (I missed only Fino and SJS IPO''s recently)

Thanks

ICICIdirect kept the bidding open beyond the usual time 😊😊

how is it at a steep discount of 54% to Devyani?
the current price looks overvalued to me

@Avenue,
Hahaha, well said. 😂
btw, you have good sense of humor👌

Thanks

@MRavichandran & @Avenue: We won''t have to go through this scrolling-pain if Team chittorgarh @ADMIN changes the setting to Sort replies in chronological order just like original messages. That is recent replies first

Haha ya Avenue...my frequency of checking messages due to scrolling reduced after replies crossed 30 in that thread 😂

Nexus...thats a good suggestion to Admin

Accepted both retail applications upi mandate

Lokes .... Hai

I applied 15 lots through one account and one each from the other two. Am I eligible for confirmed allotment of around 45-50 shares in 15 lot account. Thanks.

@Andi

You should be getting around 52Shares (+-2) since issue is subscribed 3.46 times in HNI category

@andi: ya you will get around 50 shares as avinash informed.

Super

Does not look like a storm

@Eklavya,
Vanakkam.
Its calm only from HNI.
QIB''s will have some say here

Thanks