even sbi does save it
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IPO Allotments :)
- Thread starter sjmajumder
- Start date
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- Tags
- ipo
mayankcse10
TF Select
Need help - I applied for Identical Brains Studios Limited IPO for 1.08L (SME). Didn't got allotment so upi mandate should get revoked but it didn't & I got error from HDFC
UPI-Mandate for Rs 108000.00 could not be cancelled due to IR.
What to do now? how to unblock amount?
@sjmajumder @newmakerhere @KGSIPO @mayankcse10
UPI-Mandate for Rs 108000.00 could not be cancelled due to IR.
What to do now? how to unblock amount?
@sjmajumder @newmakerhere @KGSIPO @mayankcse10
UPI Mandates are the worst but the easiest way to apply for ipo for a normal person.
UPI Mandates involves multiple parties in between
1) Bank
2) Upi App
3) NPCI UPI Server
4) Registrar
While ASBA has only two parties in play the bank & the registrar.
For your case I would recommend you to contact bank and raise complaint to upi app for faster resolution. Additionally you can try contacting the customer care of the registrar for that ipo.
So for upi if any of the involved parties server is not working properly and an api call is missed they mark it as failed/pending etc.
And as per UPI everything then works as per their time line like 2-3 working days and in some cases like my friend applied through pnb via upi and the money was blocked until the mandate's expiry date. So in upi its best that you get the allotment as there are many chances that the money remains blocked.
And as there are so many IPOs lined up I would always recommend every one to use ASBA as you may miss an opportunity due to lack of available funds.
Also as discussed in this thread itself for all the banks if you have the broking account with them the asba is few clicks and no need to enter the bo id.
But if you have broking account with some discount broker like zerodha you may use Kotak/IDFC/SBI as they save the BO ID & you can apply through ASBA in few clicks.
I personally find Kotak the best due to the following reasons -
- Apply till 3PM (HNI) & 4 PM (Retail) unlike SBI
- Apply in few clicks using Kotak Mobile app as it saves the client id
- ActivMoney option gives you 7% interest for amount above 25k and the fd is broken only after allotment is done so the best for bhni ipo investors. Even when allotment is done you can fund the account with the same amount before eod to save the fd from prematuring.
Last edited:
mayankcse10
TF Select
If you've already got the email/message from the registrar, simply reach out to HDFC to unblock the same. They'll help with that.
I did the same with Axis on Friday and it was unblocked in a few hours. I had called my RM who connected to a technical RM so if you have a RM could be easier for you too.
In the HDFC Securities demat account you have to enter nothing. Just click apply, ok to terms and conditions and then confirm. Done.
Will try it. Thanks.
sjmajumder
TF Legend
I really have no idea about this but found this thread on Zerodha
Ipo mandate could not be cancelled due to IR? What does it mean? and what to do
Hi, I received the message stating the IPO mandate could not be cancelled due to IR. Does anyone knows what does it mean and what to do? Money is not showing in the account
tradingqna.com
and below is the response from Zerodha for same issue
"This is a technical error your bank has faced. We tried reaching out to the merchant banks to figure out what IR stands for. Although we could not find the answer, the bankers confirmed there is no actionable from the investors’ side. The bank will reattempt the cancellation."
sjmajumder
TF Legend
Also there is a mandate end date. Worst case scenario is it will get auto released on mandate end date +1 day.
Raghav2006
TF Premier
Applied
Mamata Machinery- 1
DAM Capital - 1
Transrail - 1
Concord - 3
Sanathan - 3
All using groww
Purpose is only short term gain and will sell the allotments and reapply something else.
Mamata Machinery- 1
DAM Capital - 1
Transrail - 1
Concord - 3
Sanathan - 3
All using groww
Purpose is only short term gain and will sell the allotments and reapply something else.
sjmajumder
TF Legend
Why not Senores?
Youtube_Free
TF Buzz
Applied
Mamata Machinery- 1
DAM Capital - 2
Transrail - 1
Sanathan - 1
Senores - 2
Mamata Machinery- 1
DAM Capital - 2
Transrail - 1
Sanathan - 1
Senores - 2
KGSIPO
TF Premier
Jack of all. Riding shoes ver all ipo
Raghav2006
TF Premier
The subscription was just way too high.
Originally I was going to apply only concord and sanathan both of them in 3 PAN, but then I saw that I had money in my account so applied the ones which had comparatively lower subscription.
I am trying to make ipo opening profits only and nothing long term.
sjmajumder
TF Legend
Senores is having 59% GMP much higher than concord (10%) and Sanathan (28%). So what is the rationale of choosing concord and Sanathan over Senores?
sjmajumder
TF Legend
And here I am struggling to apply 4 from 4 accounts 🙁
Pradumya
TF Ace
Sir everything is not GMP. In senores 1 out of 78 application may get 1 lot allotment, agreed there's more profit but chances are too low. And on lottery system, the luck cannot be guaranteed.
There are many cases where IPO outperformed GMP by great margin.
Just selecting IPO basis GMP is not a great idea.
Like for example Ventive hospitality has ~10% GMP but the quality of business and valuation is top notch.
Recent example also includes Sagility India IPO, look at its performance vs GMP vs subscription figures.
sjmajumder
TF Legend
I am aware of this but wanted to hear from @Raghav2006 what is his reason.
Generally not on listing. After some time definitely, like my decision to hold KRN has paid off rich dividends but not BajajHFL and OlaElec.
@Raghav2006 clearly mentioned his objective as listing gain. If that is the case I think GMP should be the only criteria.
Depends on your objective. Honestly I don't have time to analyze each company, could have done if there was 1 IPO per week but not at this rate.
Another argument will be, I will rather bid for the higher GMP IPO and buy the lower GMP stock after listing for long-term gain.
How many such cases are there? Hardly 5 a year? I'd rather take my chances with higher GMP, as I don't have the time to analyze each IPO offering.
Good arguments, but at the end of the day it all boils down to what is your objective. For someone looking for long-term investment your arguments are very much valid but someone looking for some quick money through listing gains, GMP is the way to go 🙂
