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However, it is sad to say that the company has not clarified if it going to allot fully paid up shares to those applying for partly paid up shares in case of oversubscription. So the clouds of uncertainty are still there. The company reserves the right to allot you partly paid shares and call for the balance amount at a later date stipulated in the prospectus. Hence, one may not get shares before listing and may be reduced to a mere viewer seeing others booking listing gains. So if you are willing to take the risk choose the option of part payment. But if you want to be on doubly sure that you sell on listing day, paying full amount is a safe option. I am going to take a risk and apply through partly paid option. Meanwhile Grey market is qouting a premium in the range of Rs. 290-310 on the offer price of Rs. 450 with hardly any takers at that premium.
4 comments:
Dear Rajesh,
You are doing a great work. I request you to refer page No.5 (Point No.42, under that sub point No.7) of the Reliance Power IPO form. I quote " where a bidder has been allocated a lesser no. of equity shares than the bidder has bid for, the excess amount, if any, paid on bidding, after adjustment towards the balance amount payable on the equity shares allocated,will be refunded to the bidder from the Refund Account". So those retail investors who applied more than 60 shares would get fully paid up shares regardless of the payment option chosen.
Keep it up your good work.
With regards,
R. John Christy
www.investchips.com
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