@zerodhaonline Hi, i want to subscribe SUMICHEM @ floor price of 265 per share, but the cut off price showing is 282.65 in zerodha bulletin, will i get allotment at 265 or 282.65, nd one more thing when will i able to sell the shares? https://t.co/q6snp5Oefk
You can apply at Rs 265 but may not get allotment. In an OFS, the cutoff price is indicative for retail shareholders since this is based on non-retail subscription. You may get allotment even if you apply at a price lower than the cut-off. But this is contingent on the bids from other retail investors. If there are a lot of bids at the cutoff, you may not get allotment below the cutoff price.
Thank You Sir, If i get alloted, when will the shares come to my Demat, nd can i sell shares in market tomorrow?
If you are allotted, the shares will hit to your Demat account on T+2 days, you can sell your holding (T1) on the next trading day also.