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IPO Allotments 😍

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sousnake said:
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
Click to expand...
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 -
  1. Apply till 3PM (HNI) & 4 PM (Retail) unlike SBI
  2. Apply in few clicks using Kotak Mobile app as it saves the client id
  3. 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:
sousnake said:
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
Click to expand...
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.
 
mayankcse10 said:
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.
Click to expand...
Will try it. Thanks.
 
sousnake said:
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
Click to expand...
I really have no idea about this but found this thread on Zerodha

tradingqna.com

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 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."
 
sousnake said:
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
Click to expand...
Also there is a mandate end date. Worst case scenario is it will get auto released on mandate end date +1 day.
 
Applied 1 lot each in
Mamata
DAM capital
Sanathan (might get allotment)
Ventive (might get allotment)
Transrail
 
Raghav2006 said:
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.
Click to expand...
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 said:
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?
Click to expand...
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.
 
Pradumya said:
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.
Click to expand...
I am aware of this but wanted to hear from @Raghav2006 what is his reason.
Pradumya said:
There are many cases where IPO outperformed GMP by great margin.
Click to expand...
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.
Pradumya said:
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.
Click to expand...
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.
Pradumya said:
Recent example also includes Sagility India IPO, look at its performance vs GMP vs subscription figures.
Click to expand...
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 🙂
 
sjmajumder said:
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?
Click to expand...
Lower subscription sir.
I've applied for sme ipos too many times but never got allotment as most of them have very high gmp say beyond 80% hence retail subscription of 100X etc.

Same is the case with senores, it may have 59% GMP but its subscription is also too high reducing my probability to get one.
Hence, I preferred getting higher chances of allotment with less profit rather than no profit at all.
 
Currently I am not going to hold anything for a month, but I personally prefer holding shares of companies whom I have heard for a long time or been a customer of.

And in these applications I'll be completely honest with you but I haven't read any reviews or performance indicators, I just saw them on investor gain and no one gave a negative rating and I was in.
I am student anyways and still learning how these financial indices and all work.
 
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