Please someone guide me how to get ipo financing in hni Never got allotment due to 14 lot bidding in hni. Want to increase my chance. Any suggestions would be helpful. Thanks in advance
I have 2 queries. 1. Can i apply under HNI and RII category with same PAN? will it be valid or both will be rejected? 2. If I apply in HNI category for minimum lots of Rs 2,00,000 + , then what r the chances of allotment of a single lot in Tega? Thanks.
@ RAKESH FOR 2ND Q it depends on final figures of HNI category on the last day after closing i can give only 1 eg here say: HNI goes 14 times max & you applied 14 lots as 2lac then you will get 1 confirm lot now you can calculate with this ratio after closer of ipo thanks
If you have two demat accounts then both accs should be linked with two different bank accs and two different UPI IDs and two different pan cards, what do you not understand? One pancard = one application, if you apply from multiple demats whose bank account is same, your all applications would be rejected.
HOW WE CAN CHECK THAT OUR PAN CARD IS LINK WITH LIC POCLICY. IS THERE ANY WAY TO CHECK IT?
184.5. K.Atar| Link| Bookmark|
December 1, 2021 3:43:04 PM
IPO Guru (1000+ Posts, 700+ Likes)
to continue this topic..
if you have LIC CUSTOMER app then: (1) tap ''SERVICE REQUEST(s) icon (2) it will open then - again tap on'' service request'' heading. (3) it will open ''select service request'' - - - from its drop down menu select ''Pan Data Registration'' - tap ''done'' (4) it will take you to pan data registration menu where you can update your pan details and submit it.
Can I buy a policy tomorrow (2 Dec) and hope to be considered as a policyholder when the IP opens?
Always in restraint of Mrs. Crow.
184.10. ColdBurger| Link| Bookmark|
December 2, 2021 12:05:44 AM
IPO Mentor (1400+ Posts, 400+ Likes)
Too costly a thing to go for new policy just to apply in shareholder''s quota. It will be so big an IPO that it will list in discount if price range kept high. Plenty can be bought after listing.
184.11. SamJos| Link| Bookmark|
December 2, 2021 1:09:46 AM
Top Contributor (500+ Posts, 100+ Likes)
@Crow - Rather than purchasing new policy, its easier - to apply multiple lots in retail, because it may not subscribed 1x also in RII, or - apply HNI in one account, OR - still interested in policyholder quota, find friend or relatives who have lic policy & get demat accounts for them, which will be useful to you in other IPOs also.
184.12. Crow| Link| Bookmark|
December 2, 2021 11:42:33 AM
IPO Mentor (900+ Posts, 1100+ Likes)
Thanks @CB and @Sam, I was thinking of a cheap medical policy with LIC (the only one they have) but I get your point. I already have 2 accounts, so might go for one retail and one HNI this time. Thanks.
1. Can LIC be applied both to n retail as well as policy holder quota? 2. I have three policies under same PAN. Can three application be made for three policies?
184.14. SamJos| Link| Bookmark|
December 2, 2021 2:10:39 PM
Top Contributor (500+ Posts, 100+ Likes)
@amukho - 1. Most company treat same person application to RII & shareholder quota as different application though applied with same PAN. However need to be confirmed from RHP. 2. Whether you have single or multiple LIC policies, that enables you to apply only one RII application under policyholder quota.
I want to submit more than one retail application for Tega. I have applied via Paytm Money and my SBI account UPI ID. Can I also submit another application via my SBI account ASBA route with my wife’s demat account and PAN ? Generally, how do people submit multiple applications under Retail category to increase chances of allotment ?
If I apply for IPO from different demat accounts of different PAN but approve mandate through single UPI address, so will it be considered as different applications or same application?
No issue...my brother bank account and mother bank account are linked to same number and the UPI ID is also same...both the applications are valid since amount blocked is in different bank accounts...
It will be considered as different applications as the PAN is unique. Any number of applications can be made with the same UPI ID unless and until all the PAN numbers are unique.
no My friend demat and upi should be from same PAN account holder, if you use your upi for all of them it will not be reject but you will never get any allotment, same thing happened earlier with me i use to accept mandate for all my family demat account but never got any allotment.
Applied through zerodha and groww sday haven''t received mandate request still in my UPI (gpay) Anyone else having the same issue? pls shed some light. I don''t have asba facility for either of these PAN.
Sometimes it can take some hours for the mandate to appear in the UPI apps such as Google Pay. You should receive the mandate in the next few hours or by tomorrow as well if the payment traffic for the IPO is very high.
While accepting UPI Mandate on Google Pay a message was shown "UPI-Mandate Registration failed on UPI due to NA - SBI" Please suggest what should I do. Note: Demat Account is in the name of "A" and 3rd Party Account of "B" with SBI was used to create the mandate. Thanks
Against availability of 62,134 lots in NII... Tega has already received applications for 10.75 Lakh lots as of 3:20 Pm on 2nd day of issue (~17x). This is expected to reach 4.5-5 crore lots by end of tomoorow. ~700 to 800x. Approx 17k person/org are usually expected to apply as HNI in such issues. and 4K mayget confirmed allotment (4k:17K) Retail has avaliability of 1,44,979 lots and as of now has crossed ~16x. Expected to end up around 25-30x. Nearly 30 Lakh people expected to apply as RII and 1.44 Lakh lucky ones will get it (1.44 Lakh: 30 Lakh) Makes me think if better probability with Anand Rathi should be brought into the picture and should i skip as HNI in tega and apply in AR with FF???? But then applying FF in AR as HNI will be curtains for Rategain HNI (for self funded ones ofcourse). Applying in Tega can still give chance to apply in Rategain also with FF. Guess will wait till 2:30pm tomorrow for final decision. Sigh.... Hope HNIs in tega do not cross 400x.. Unlikely hope though
Bajaj Finance numbers for TEGA are again on the higher side... At 10.5% net interest for 7 days for 1 Cr application, the interest cost on a total level is 20150.. At approximate 500x, the per share cost becomes 461Rs .. At even 400x, the per share cost is 368Rs ... (this is just the interest cost mind you)
The current gmp is not even 350Rs . I don''t know who will take funding at such high rates/ low gmps but I know there will surely be ppl who will take!
Margin is 0.25% by the way... So even BFL is expecting 400x atleast 😁
If people hesitate to take funding, subs will drop and soon gmp with drop. Also gmp seems to be on the higher side. People are clearing their losses with big swing. Hope this 405/- (89%) sustains and goes higher.
If GMP becomes 100%, I think subscription will easily cross 500x and and thus the cost of shares will be higher... This seems to be a repeat of the latent view story... Funded HNIs have a very high risk / low return scenario in front of them...
I will skip HNI and go retail with my 23/24 applications for this one and hope to get atleast 1 allotment.. Good probability of getting it
@IPO STONKS did they give you a rate similar? 10% interest 2.5% FD but since they deduct 10% TDS, so you will pay 12.5% upfront and get 2.25% back once you get the debit note?
I confirmed with Bajaj.. They aren''t going to give any refund of FD money later.. They already gave it with the debit note they said.. Hope your views of Bajaj are the same?
@iamnimitshah - Bingo! I''ve noticed that usually IPO''s which are well priced and have a solid listing premium expectation end up being a disaster for funded HNI''s.
I''m just curious about why you guys don''t factor STCG on shares sold on listing day into your overall profit/loss calculations? Keep minting!
@Neo, that''s because the stcg is only on the final gains made (selling price - issue price - interest paid to nbfc per share) and that''s also just 15% of the gains made... earlier I used to think that stcg is on the entire gains (selling price - issue price) but under some section, we can claim the interest paid to nbfc in the acquisition of asset and the capital gains will be on net of the same.. Hence not considering that..
I agree with your point on well priced IPOs.. All the IPOs which go beyond 400/500x are the ones which are an issue, and also the current bigger issue is the absurd interest rates bcz of super high demands... earlier 1 cr loan for 7 days used to cost 15k average... now it costs 20k.. in 500x, you get just 20k worth of shares.. in 666x, you get just 15k worth of shares... and at current interest rate, you are spending 20k interest to get it... means already 133% cost 😆
Thanks @Nimit - Good that interest cost is a deductible expense...guessing that gains are shown as business income then. HNI financing is a cruel game and tough to consistently make money off it!
@Neo Yes, your last statement sums it up perfectly... This was a good game earlier but now, it''s just too difficult to gain on a consistent basis... Take example of tarsons... HNI cost was ~200 to 250/share... and it opened just 18rs up i.e. 680 on NSE... And going by past experience of GLS, Windlas, many ppl would have booked it there or when it reached 700 just after listing! that''s easily a big loss since at 250x, you receive some 60 shares and each share making a loss of 150 to 200rs... so 9k to 12k loss...
Its NBFCs who is making money now instead of HNI investors ;) They tend to have surplus cash which they deploy in liquid funds but now using it for short term profit which is 3 to 4 times than liquid fund returns.
Can you please share more details on the section where interest cost can be exempted in case of funding.
I have read somewhere that if you treat income from ipo as business income than u can deduct interest cost as expenditure but net profit will be added in ur total income and will be taxed on basis of income bracket.
Trying to research on it for long time. Please share some link if possible
@moyo We cannot post links here on chittorgarh You can google search or ask your CA.. I am also doing IPO Financing from this financial year and haven''t really done this taxation related part before.. It will be new for me..
@ Moyo Profit from ipo is not business income, it is capital gain as because here delivery is must. So no question of expenditure etc. For getting something worth 15000, can you claim for rebate on interest at very high rate for lakhs/crores of rupees ? It is a speculation.
172.18. SamJos| Link| Bookmark|
December 2, 2021 12:53:33 AM
Top Contributor (500+ Posts, 100+ Likes)
@NeoLongus, @moyo, @iamnimitshah, @Asoke sarkar, this may clarify your doubt:-https://m.economictimes.com/wealth/tax/tax-query-how-is-the-interest-paid-on-borrowings-taxed/amp_articleshow/71535647.cms
Thanks for the link. It appears interest charges can''t be used for exemption. Net capital gain would be Listing price -ipo price. Please correct me if I have understood it wrong. @iamnimitshah @Asoke
One can treat their profit from Equity Shares either in Business Income or Capital Gain. but we cant treat one transaction as Business Income and other as Capital Gain... it should be all in same category. If it is business income then it will just like creating a Profit and Loss account where we can claim all expenses incurred for that business. and the same will be as per the income tax slab....
Just posting here that you would track and reply. How much is the ROI Bajaj offered for MapMyIndia ?
I was told ROI is fixed at 11.5% and 2.5%FD interest. So total Interest is 14% and margin cost is 0.25%.
is it ok to apply at this ROI ? Did you apply ?
Thank you.
I have been a retailer doing 14 to 18 applications but have not got any allotment in recent good IPOs and so turned into funded HNI after your advise in a post that Bajaj offers HNI funding. Thanks for the advise.
Yes, same rate quoted to me.. I didn''t apply... I will not apply for anything more than 8% net... Bajaj is just making fooling us!! Full risk ours, full returns for them
you are right dude. I have opened all the 3 accounts because they are free but ROI at 11.5% is very very high and we got to take all the risk and they enjoy most part of the fruitfulness. We get a very little if things didn''t go our way
@iamnimitshah @Always Lucky Hi, Would like to know what is the process for getting IPO funding from Bajaj Finance ? Is there any eligibility and what kind of documents are required ? And also , what is their process i.e. What Bank accounts and demats ? And how do you intimate them for funding and do they place orders on your behalf?
And finally do you guys think it is feasible and advisable to take funding and apply ?
Not at all advisable to apply with high rate of loan now a days as subscriptions are going berserk. Take the example of Tega, if not listed above 900 HNI with loan, may not be able to recover even their cost.
170.2. SamJos| Link| Bookmark|
December 2, 2021 2:02:35 PM
Top Contributor (500+ Posts, 100+ Likes)
@RAJESH NAGARIA - no. of lots to be applied to get atleast 1 lot firm allotment vary with each IPO, depending on HNI subscription figure. If no. of lots you had applied is same as HNI sub figure, you get one lot firm allotment. If no. of lots you had applied is double of HNI sub figure, you get two lot firm allotment. If no. of lots you had applied is half as HNI sub figure, one of two applicants applied half lots of HNI figure get one lot firm allotment.