I applied from two different SBI accounts. Now one account shows bid amout in Net Balance and another account does not show bid amount in Net Balace. So i guess I have been allotted shares in second account. If this is right, one can check this way.
Hello, I read somewhere that an HNI cannot apply at the cutoff price. Can anybody please explain? Also, as an HNI, how can I increase my chances of allotment. Any help will really be appreciated. Thanks.
I still don''t get it. Suppose For Tatva Chintan, the price range is 1073-1083. If I use 1083 as the bid price, what will happen? Will my bid not be successful?
HNI meaning is high networth individual..so it means they are rich and can apply huge money... Cut off can sometimes be lower than the higher band price...this happens when issue is undersubscribed.... Even in such cases for HNIs, since they are rich, the allotment will be done at the price they bid for...even if it is higher than cut off... Hence HNIs are not allowed to bid at cut off...but only at values... Now, I jdfc asba I''ve seen that for HNIs the option to mark cut off itself is disabled...if this is not done in other banks...I believe this should be done... If the option is enabled and you are applying as a HNI...make sure you don''t bid at cut off...such bids are liable to be rejected...
Thank you Kishenharendra, In case of Tatva Chintan (1073-1083) what amount should I have quoted for a successful allotment? I''ve read that for HNI you need to apply for atleast 2lacs, but there is a guaranteed allotment, and the number will be decided by oversubscription. Please guide me. Thanks
520.5. Black Swan| Link| Bookmark|
July 26, 2021 6:34:34 PM
Top Contributor (400+ Posts, 400+ Likes)
In HNI one needs to place an order at upper end of the price band For e.g for Zomato it was for Rs.76 and to increase your allotment chances in HNI you need to bid for higher number of lots. Higher the number of lots bid for higher will be the chances of allotment
HNIs are guarateed a confirm allotment, but subject to a minimum of 1 lot... so for example, if company is offering shares at 1000 and 1 lot size is 15, then total amount for 1 lot is Rs. 15000. Let us say the HNI was quota was oversubscribed by 200 times...this means for a guaranteed 1 lot allotment in this quota, one should have apploed for minimum 200 lots...that is 15000*200=30Lakh. If one has apploed for 300 lots, then he would be guaranteed 1 lot and a few fractional shares...and so on... If one has applied for 10Lakh, he is not guaranteed allotment, but there is a slim chance of allotment because of rejections and other calculations...
In Tatva, since it was oversubscribed by 522 times, one would be guarateed of an allotment only if they have applied for more than 522 lots, which comes to 1083*13*522 = ??? Rs. ... too much to calculate, so will leave it to you!! :-)
Thank you Kishenharendra and Black Swan. Won''t it be better to apply as a normal retail investor, where atleast we have a lottery system. In case of HNI, there is very little chance of allotment with higher amounts blocked.
519. Gopinathji| Link| Bookmark|
July 26, 2021 6:50:48 PM
Top Contributor (300+ Posts, 200+ Likes)
Allotment status of IPOs in the recent times reminds me of the situation where we used to check our exam results during college days.... Refreshing the page continuously to see if the results are out :P
GMP is so high, there will be very high chance of manual allotment and nil chance for all small investors who have applied 1/2 lot. 1-2% will get it so SEBI does not raid them!