OFS Price for retail

General
1

Let take the latest OFS JSW ISPAT SPECIAL PRODUCTS LTD for example,
First The floor price for this OFS was 27 and the indictive price after the first day ( non-retail) is 33.91, but today the opening bid for retail came out to be 35.05, why?

And if the retail has a reservation of 10% why does the final bid for non-retail become the floor for the retails?

And if I am not wrong Cut-off price is the minimum price at which, ANYONE will be alloted the stock i.e no one gets the stock below this price in OFS if yes when does it makes sense to bid at a price other than the cutoff price?

@ShubhS9 @siva-reddy

2

Even I am unsure why the opening bid came out to be 35.05. Yes, you are correct that the cut-off price is the price at which shares get issued to investors. OFS cut-off rate is the rate at which shares are offered to non-retail category, and I feel it does not make sense to bid at any price other than the cut-off.