SBFC Finance Limited IPO Message Board (Page 32)

@ElDorado 
So if u dont get allotment, fund will be reversed back to source account right?
If u get allotment let say in ur far relative or friends dmat then do you transfer the share to ur dmat account or sell from their dmat account?
If sell from their demat account then amount will be transferred to their dmat linked bank account on settlement so inthat case only trust matter.
Plz help me to understand this

If allotted I'll sell them directly from their account and they will send the profits.

I mean, along with capital.

*Why do a few 3rd Party UPI IPO applications get an allotment?*

As per the regulation, the *funds for IPO applications should come from the bank account linked to the demat account used for the IPO application.*

The stock exchanges along with the registrar and banks are responsible to validate this information.

➡️ _*Process of validating 3rd Party Bank Account in IPO Application*_

Following is the process *stock exchanges*, *registrars*, and *banks follow to find the 3rd Party bank accounts* used in the IPO application:

1. Once the *public issue closes*, the *exchange sends the IPO application file to all the banks* to take the *confirmation that the bank account linked in the demat account* is the same used in the IPO application.

2. Banks get only a day to revert. There are lakhs of records to validate.

3. Some banks revert with the confirmation of whether the account numbers match or not.

4. Exchange puts a flag *(Valid or 3rd Party)* and sends it to the registrar.

5. The *registrar rejects all IPO applications* which are flagged as 3rd party.

6. In some cases, the *3rd party flag comes as empty* from the exchange. It happens in the case where a *few banks do not respond in the given time*. These are the records that are neither rejected nor accepted by the bank.

7. The *registrar sends the file* with *pending records to the banks again and waits for one more day*. Registrar gets a few confirmations. Some banks still do not respond in time.

8. If confirmation is not received from banks, the benefit of the doubt is given to the IPO applicant. This is because banks are supposed to own this. No one else can confirm if the information is correct or not.

9. Wherever such *confirmations do not come, by default those applications cannot be rejected*, hence they are considered for allotment.

It’s a wrong thing that these people are getting allotments but there is no way to check because banks are the only agency that can check the account number.

Banks are not able to handle the load of validating lakhs of IPO application data for every IPO in a short period. Thus they don’t send the confirmation and in the process, some people are getting benefited.

As per the registrar, a few applications fall under the category of ‘not-validated 3rd party bank account’. They are not ready to share the actual percentage of these applications.

All brokers in India sell your data in one or the way and therefore you get call and messages regarding stock market and all.
Only ZERODHA is the only broker which doesn't sell any data and proudly says that in public too

Wth !! I mean getting a call is okay but visiting at home, its too much even you didnt buy the shares. Once i got few spam messages to invest in xyz, i confronted zerodha and they assured me of privacy of data, this was in 2018 though. You should also ask your broker because broker has every data.

@Udankhatola irony is I have zerodha broker. I think registrar has shared the data since they have data of all applicants

Same here.. I did not get Utkarsh ipo allotment, but one utkarsh sales executive visited my home yesterday, he had my name and address details.. he was asking to open an account with them..I was surprised then.. now I understand..

@Elon Rusk @amit K singh which place/city?

Yes, same here, utkarsh representative visit my home and asking about my wife who got allotment in utkarsh bank. They asked me to open an account with them.

So this is about account opening in their bank. I am also wondering like if they had address, why didn't they had phone no? He never called. Directly visited home.
@json vijayawada

Never happened with ICICI Direct.

WoW... Amazing. What a business model of Zerodha.🕴️
Gain and make customer base offering them a candy cover✉️ to save their candy🍭 and when you go to them, they take your candy and sell.
People are always in a dilemma😵 about who has done this to them, because they know Zerodha🕴️ is our protector, so, they can't. 😂😜

@Admin @ Chittorgarh.com Can we raise any complain related to this? Please provide details if you have

@Elon Rusk @amit K singh They visited your home !! Call tak to theek tha, seethe ghar pahaunch gaye ?! that's invasion to your privacy.

Digital personal data protection bill passed, this case comes under it.💾

@Elon Rusk  It is indeed concerning if bank employees approached you at your home without your consent, alongwith the information that you applied in their IPO. There are regulations in place to protect individuals' privacy, such as the Information Technology Act and the Personal Data Protection Bill.

E-mail/reach out to the bank directly and inquire about how they obtained your personal information. Request an explanation for their actions and express your concerns regarding the invasion of your privacy.

If you are not satisfied with the bank's response, you can file a formal complaint with their customer service department. Ensure that you document all communication.

If the bank fails to address your concerns adequately, you can escalate the matter to RBI. You can submit a complaint to the RBI's Banking Ombudsman Scheme, which provides a grievance redressal mechanism for banking-related issues.

Also, approach the data protection authority under Personal Data Protection Bill.

@Mercyless You may get 1 or more than 1, but allotment is not guaranteed. As it is lottery, though u have high probability of allotment but not guaranteed.

I know it's lottery. I'm asking ration.
It is 1 out 10 or / 1 out of 25

Retail 2 out of 11

Ratio for retail is 1 out of 11

@ Mercyless

ratio 1 out of 11.
depend on luck,lottery system

If someone applied 11 lot in retail .He will get at least 1 for sure?

Sir can u share the allotment probability for each category. I have applied 2SHNI AND 1 retail
Thanks

BHNI - 1 out of 11
SHNI - 1 out of 41
Retail - 1 out of 10

It's normal for Mainboard IPO

thats bcoz 3rd party applications were getting rejected / errors on final day . Maybe its time for almost all banks to strictly ban / reject 3 rd party applications and give fair chance for retailers.

35% for Retail others have less

Hello Boyani - You only get 1 lot allotment in the retail category by way of a lottery system. It does not matter if you have applied 1 lot or 13 lots. So its better to apply only 1 lot if applying in the retail category.

where do you get application data?
or is is just an estimated calculation based on previous IPOs?

Thank you sir... was waiting for your post only ...

Mam in Bhni proportionate allotment or lottery basis.

I am expecting above 80x..

It will be more than 125x++!!

@Tejas Pandya Your optimism is misplaced. ♾️🟣🔵🔴🟠🟢🟡
Just kidding 😂, hope that goes beyond this.💫

Let's gooo... sang ✴️

Half century 🏏done!

@VVIIPP QIB CROSSED 80X MARK..😁

80x achieved now... Go..Go..Go..⏩⏩⏩

@Tejas Pandya Smoothly!🧈

Boom 💯 crossed.
Level *sang* cleared.
Anyone want to obstruct?¿🌀🌪️🌪️🌪️

Heading towards 200+

@Suraj.... Don't give me hope.🏹

@VVIIPP Hawkeye 😉

@Tejas Pandya Actually, technical it was Ronin but yeah you got the reference.😉📸