I got 1 lot in 3 10 lotts appl. I ordered for sell of credited 2000 shares in preopen which was canceled.Now I am unable to see them in my holding in icici direct. Have they gone to escrow fund without any notice by sms or email to allotties or to media. Icici or other allotties please see. Are you also having same experience. What is going on now . Pl let me know.
How should this be concluded? 1. Allot and leave it on market to decide on what happens. Alloties may or may not be intrested anymore. 2. Cancel everything and give the money back with interest. Company will be unhappy.
In either case, not everyone be happy. This looks ugly to me.
This should not have happened in the first instance. Now that it has happened the market has lost its confidence about this company. If BSE continues to list this, which it will do in all probability to save itself, it will give a clean exit to the promoters and big investors at the cost of retailers . So SEBI should not allow the listing and allotments have to be revoked and money has to be refunded back to investors. Or if they still want to go ahead with listing, retailers have to be given an option to withdraw before listing. I request members to share in your social media handles and also to take it up with SEBI and BSE
Cancel and let company refloat its IPO later. There has been enough damage by this episode and everyone knows people will lose money. In fact had the exchange not done anything, people would have got good exit. There could be many such IPOs with dubious credentials but why only this IPO was singled out and held on listing?
89. KGSKIPO| Link| Bookmark|
September 22, 2024 10:33:47 PM
Top Contributor (400+ Posts, 100+ Likes)
Any information when it will list or relelase the money. Totally silent on BSE part.
Thats good. I too wrote to them and also raised complaint in scores of sebi. We have to keep following up. I too asked for allotment to be cancelled and money refunded. All investors should do this.
Your quiries can also be addressed by National Newspaper as well. Try to give brief on this and if any article published on the matte, the same would have huge impact on authority for faster resolution.
I think intent of company is clear, it has already got the IPO money and not willing to refund it back. Any honest company would have done it by now. Surprised by NIL action from BSE till now. Damage is already done, lower CKT confirmed on a daily basis
Press release by Trafiksol. Seems addressed the issues with exchanges and listing will happen soon.
81.1. colcol| Link| Bookmark|
September 18, 2024 4:48:43 AM
Top Contributor (400+ Posts, 100+ Likes)
No where does the PR say the queries have been addressed. In fact, the language strongly suggests that the company is still in the process of answering them.
I think sme ipos are approved by exchange and not sebi. Yes exchange should not allow ipo rather than allowing it and then hold the listing. Very bad management by exchange
SEBI should immediately intervene and refund the money to all the IPO allotees. This has to be raised in several forums and social media channels. Once suspision is raised, SEBI should not wait for the outcomes. Keeping investor's interest in mind, it has to order refund immediately. Request member of this forum to share this in your social media handles
SEBI should immediately intervene and refund the money to all the IPO allotees. This has to be raised in several forums and social media channels. Once suspision is raised, SEBI should not wait for the outcomes. Keeping investor's interest in mind, it has to order refund immediately
One thing I'm unable to understand, How did exchange approved the RHP in first place if the usage of IPO proceeds was not satisfactory ? This will badly dent the sentiment in SMEs specifically.
73.1. rohiitian| Link| Bookmark|
September 17, 2024 10:04:52 AM
IPO Guru (1200+ Posts, 800+ Likes)
Exchange woke up when average retailers discovered it, exchange did not even diligence properly. Even this I heard some specific people complained to exchange directly
I think its good - better RHP disclosures are needed. In 2 days people will forget this episode, but structural change is welcome @GrayIsTheNewBlack
73.2. MuStrFc| Link| Bookmark|
September 17, 2024 10:11:17 AM
IPO Guru (3100+ Posts, 2400+ Likes)
Exchange is now playing to save its own repute, hence all the measures. Due diligence at the onset was lacking which is reflecting now all of a sudden. Its escalated more now, due to the news in Zee and now the postponement of listing @GrayIsTheNewBlack
@SME PLANNER - I have collected list of PANS for major QIBs and Institutions over the years. Using which I check their allotments. I cannot name the a-p-p here or else admin will block me 😐
SME IPOs are Scrutinised, Allowed, Listed, goverened by particular Exchange where they want to list and submit DHRP to that concerened Exchange accordingly . Like in this case Only BSE not SEBI. Therefore SME IPOs are always high risky.