Comments on: ICICI Bank FPO oversubscribed : Apply at cutoff

By: Adishwar Jain

Adishwar Jain — Fri, 22 Feb 2008 11:47:36 +0000

hi… i have A query… i am been alloted 24 shares of last year icici bank fpo, but have missed to pay the final call amount… later on when i came to know about it i have sent a draft (for the final amount + interest) on 4thjan 2008… but till date my shares are not fully paid up… plz guide me what to do, whom to contact… plz help me…

By: rudra

rudra — Sun, 22 Jul 2007 18:00:22 +0000

Respected sir,

I have applied for 30 shares of ICICI FPO at retail category. I paid rs. 30 @ 950 = 28500. But as the price was discovered at 890, I was due to receive rs 60 X 30 = 1800 as refund. but till now I have received none. On enquiry Karvy sent an email saying that 30 shares have been credited and they have sent a refund order by post on 6th july. But as I am yet to get any such post,what I can do now? I will sincerely appreciate your suggestion.

By: Mahesh

Mahesh — Fri, 13 Jul 2007 04:55:42 +0000

@Alam

Thanks a lot. Not a good news but much needed information though.

By: ALAM

ALAM — Thu, 12 Jul 2007 12:58:43 +0000

hi guys,
here is an email i’ve received from karvy in relation to make the payment which may be helpful to you. i’m in dilemma, and feel that it was my biggest mistake that i applied through part payment, and is on verge of loosing my investment. as per their email you have to attach payment notice with your cheque/dd and payment must be made in the same city. i cannot receive that mail as nobody is available at my address hence cant make the payment.

A Confirmation of Allotment Note cum notice of balance Amount for
Rs.24000/-was despatched to you on July 05,2007 as per the Correspondence
Address registered with your Depository Participant.

You are advised to pay the due amount on or before July 26,2007 failing
which the Equity Shares allotted to you shall be liable for forfeiture
including the amount already paid thereon.

The Company reserves the right to charge the interest of 15%per annum
on the balance amount payable after the due date till the date of
payment or forfeiture.

The Notice along with the amount payable by Cheque or Demand Draft must
be presented at the Specified ICICI Bank branches on or before the the
due date . The Bank shall acknowledge and return the notice and retain
the counterfoil portion.

Please mention the DP ID and Client Id and notice Number on the reverse
of the Cheque/DD before depositing the same with the Banks.

Cheque/DD should be drawn on any banks(including the Cooperative Banks)
which is situated at and is a sub member of the clearing house located
at the Centre where this notice is presented. Outstation
Cheques/DD/Money Orders/Stockinvests and Money Orders will not be accepted

A separate Cheque/DD must accompany each of the notice Cheque/DD should
be made payable to “ICICI BANK LIMITED-Allot Money Account -2007″ and
crossed Account Payee Only

There is no facility to pay online or make full payment and convert the
Shares fully paid immediately

Regards

Raj

By: Bullish Indian

Bullish Indian — Thu, 12 Jul 2007 08:02:39 +0000

@Mahesh – I’m also awaiting communication from ICICI Bank regarding the procedure for paying the balance amount.

By: Mahesh

Mahesh — Thu, 12 Jul 2007 07:30:33 +0000

Hi, How do we need to pay balance amount for partly paid shares of ICICI FPO? What’s timeline and procedure? There is no communication from company so far.

By: Ganesh S

Ganesh S — Fri, 29 Jun 2007 06:03:00 +0000

Hi,

DLF fixed its IPO price at 525 and the retail section is not fully subscribed. I had applied for DLF at lower cut off Rs.450? Would I get the shares?

By: rudra

rudra — Sat, 23 Jun 2007 15:16:09 +0000

Will it be a wise idea in the present scenario to stop payment of ICICI FPO and save the money for applying in BEML?

By: Megha

Megha — Sat, 23 Jun 2007 07:50:26 +0000

I had purchased 50 shares of Fortis @ 94 per share. For how much time I would be required to hold.I dont want to book losses.

By: Bullish Indian

Bullish Indian — Fri, 22 Jun 2007 05:23:19 +0000

One will get maximum of 25 shares no matter how many shares he/she has applied for in the Vishal Retail IPO. However, not everyone who applied for vishal retail IPO will get 25 shares allotted. Who get allotment is decided through lottery system. Those who apllied for lower number of shares will have a lower probability of getting allotment and those who applied for higher number of chances will have a higher probability of getting allotment.
For ex: If you applied for 25 shares in the vishal retail IPO, your probability would be 1:50 (approx.) (1 applicant will receive allotment of 25 shares, out of 50 applicants who applied for 25 shares)
On the other hand if you applied for 350 shares in the vishal retail IPO, your probability of receiving allotment will be 1:3.5 (approx.) (2 applicants will receive allotment of 25 shares out of 7 applicants who applied for 350 shares)

By: Varsha

Varsha — Fri, 22 Jun 2007 04:18:28 +0000

What is the premium going on for ICICI? I am really impressed by your site and answers.

By: alam

alam — Thu, 21 Jun 2007 18:42:03 +0000

hi bullish, i did not understand the concept of firm/lottery system allocation. if vishal’s shares will be allocated through lottery systetm then how one will get only 25shares no matter how many shares he applied for, why not total number of shares one applied for, if he is lucky? please calrify!

By: Bullish Indian

Bullish Indian — Thu, 21 Jun 2007 14:29:33 +0000

Every applicant will get only the minimum number of shares (minimum IPO lot size). However, more number of shares you apply for, more the probability of getting allocation. Yes, in vishal IPO, no matter how many shares one applied for, maximum allotment will be only 25 shares. But those who applied only for 25 shares will have very little chances of getting allotment compared to those who applied for the maximum number of shares, who have higher chances of getting allotment.

By: elixir

elixir — Thu, 21 Jun 2007 13:41:21 +0000

hi bullish ,
i have one question that if retali subscription is heavy say vishal retail then every applicant have chance of getting only one lot (in vishal lot is of 25 shares)
or one can get full shares that he applied in case of lottery system ..

By: Keen Watcher

Keen Watcher — Thu, 21 Jun 2007 11:34:52 +0000

Thanx Akkbatra & Bullish – There is bit of confusion on 102 and 108 – Some says 102 and others 108.

Another one – Pertinent to the question for friend from Dubai. What about the clause which says that
“Non-Residents need RBI prior approval for applying for part payment.” Is this true for NRI Individuals? Does that mean NRI has to go to RBI to get approval in case they choose part payment option. How does it work.