Tarsons Products Limited IPO Message Board (Page 29)

You can cancel / withdraw your HNI application In ASBA - ''IPO Edit'' tab!

@V : yes that way your both applications will be rejected.
Normally i hope you are aware that HNI applications cant be cancelled/deleted. Only can be revised towards upper side, means no. of lots can be increased, and that also not supported properly by some banks.

@V- Sharing this link in addition to what Lokes said-
https://www.chittorgarh.com/article/ipo-application-cancellation-process-explained/539/

Thanks!

Thank all. I was under the impression that an HNI app cannot be cancelled. But now all cleared. If I submit another app then my fund will not be released. But if I cancel the app then my fund will also be released. Am I correct?

@V : as i already said HNI cant cancel their applications and it is also mentioned in the link above shared by krishna, so why you are asking about funds release etc. you can only make it invalid by putting one more application in retail but your funds will still be blocked in your hni application until refund date.

Ignore comment from @all time high, that is wrong.
I request people not to comment and give wrong info , if not sure of something.

Some banks allow to cancel HNI application just for few mins after applying until it is submitted on exchange and many banks dont even allow that. I have tried these things myself in multiple banks.

@V,

Technically you cannot cancel an HNI bid in the NII category. You can only revise (only increase) the bid price before the issue closes. Thus the funds cannot be unlocked until the allotment is done.

Question to other members:

Based on the allotment rule, if 2 bids are received using the same PAN number, both applications are canceled. Can this technique be used by HNIs to cancel the bid?

@Admin

Yes , submitting another retail application with same PAN given in HNI will get both applications rejected.

I tried that in ABSL AMC

@admin

If both the applications are submitted on the exchange, then it would lead to cancellation.

But, if u apply from the same broker / bank... And their internal systems detect it and reject it before sending it to the exchange, then the first application will go though.

Always better to apply from separate brokers... Or apply one from the brokerage and the other from the bank via ASBA, etc

Having 2 separate accounts in banks with the same pan number will be the easiest solution as ASBA can be applied via netbanking.

@Team chittorgarh: can you please update below link also with that : "only increase" info. Here its mentioned "they can revise their ipo bid" .
https://www.chittorgarh.com/article/ipo-application-cancellation-process-explained/539/

And a lot depends on banks also regarding this HNI application thing. Like in RBL bank, upto hni application is submitted to exchange, it can be cancelled, i have done that for trial purpose once and it was cancelled and funds were released. And in idfc first bank, we cant modify/delete hni application upto submitted to exchange , and after accepted by exchange, then there is modify option but that was not working and while increasing lot size there, by even 1 lot it was saying no available funds (even enough funds were there), ideally it was considering that whole new application of 150 lots so even modify was not properly implemented by idfc first bank.

Regarding cancelling hni application by putting one more retail application from same person/PAN , i feel yes it can be done and both application should be rejected for sure but never done/tried that :) will try later in some below average ipo :)

@lokes

What if u get the allotment in the below average IPO in HNI? 😂

@M.K : ya it came in my mind ;) :)
but most probably it wont happen and both application should be rejected, and anyways i wont try that in bad ipos and may only try in average/below avg ipo etc where i can get out with minimal profit or cost to cost, and just with minimum hni lots. (just saying , not sure if i will do that or not, lets see in future for fun/trying :) )
There are hundreds of links in net where it is mentioned we cant apply in both and somewhere its mentioned that both will be rejected. But it is not 100% sure that both will be rejected or anyone will be accepted, 99% both should be rejected.

Actually whether it can be done everytime or not can only be said after testing more times. But once it happened with me that I applied for HNI using phonebanking, using almost complete amount in the account, forgot one cheque was also issued before 2 days. That cheque was cleared same day, amount became insufficient & my HNI application was rejected due to insufficient fund. (My HNI application had higher lots than HNI subscription).
So I think if HNI application is done at 2-3pm, & with some mind change, if amount is withdrawn from bank A/C before 4pm same day , I think automatically HNI application will be rejected.

Point to be noted

@Dear AJAY SOMATAR

This is an interesting metric to be tracked when companies are coming for IPO...
Ab DMART jaisa low margin ayega paise uthane market se, toh tab you can think in this way... But if the business is high margin like consulting services, IT or some niche field, this metric isn''t right I feel..

Latent view IPO size was 600 crores and it''s revenue was also 300 crores... and yet its the most heavily subscribed IPO...

NYKAA 2450 crore sales and IPO size is 5400 crores...

Profit after tax is about 10% of OFS why to expand or run business.

Yes registrar will do manual deduct. It''s happened for me wth nykaa