Rossari Biotech is a textile and chemical manufacturer and is launching its IPO. The size of the public offering is expected to be around Rs 500 crores and will include both an offer for sale from the promoter group as well as a fresh issue of the company. You can check the IPO Prospectus for details. The price band is Rs 423 to Rs 425 and you can bid in multiples of 35 shares.
Once you have entered your bid on Console, you will receive a mandate collect request on your UPI app. On acceptance of the mandate, the bid amount will get blocked in your bank account. Read more.
The mandate leg of the transaction depends on the banks and the UPI apps involved. It would be best to wait for sometime to get the mandate. If not, you can also apply using bank ASBA till 5pm.
UPI mandate won’t be submitted just the ASBA will be submitted so technically you’ve tried to process both ways but completed only one right? so you’re applying only once per PAN.
Also you can apply more than once from different brokers but then rejection chances increases as per my info.
The RTA conducts a lottery to allot one lot of shares in the IPO to as many people as possible in the retail category. However, in the HNI category, the allotment preference is given on the basis of number of shares you applied for.
Hi, I too am in a similar situation. I applied for 3 lots and haven’t been allotted any as per linktime website. However, the amount is still blocked in my account. Does it take more time for amount to be unblocked?
Think its unfair on how they gave the allotment, I’ve applied for 10 lots i.e. 350 shares @425… RI was oversubscribed 7 times but still I didn’t get even ONE, mathematically if it was equally divided for maximum diversified allotment I should get atleast 1.4 lot (1 lot or 35 shares), and after getting ZERO shares the application amount is still blocked, sad experience… Wish Rossari Biotech shares plunge below 200 in 2 weeks so we can buy it way cheaper than the IPO price​:joy: