What does lien mark status regarding IPO mean?

Stocks
1

Hi All,

Recently i applied the IPO through the SBI net banking using ASBS service. but it was rejected saying ‘lien mark status has failed’.
i have tried searching on internet but didn’t get any proper response.
Also, is that the reason if i tried appliyng IPO from different account which is not map to my DEMAT account.
my demat acocunt is with Zerodha, and i have linked AXIS bank account with zerodha for fund transfer and other stuff.
so i doubt it was happened due to this reason. could anyone please provide clarification?
Thanks in advance.

2

The bank marks a lien (creditor’s right to the money owed) on your bank balance to the extent of the application amount. In simple terms, the bank will block the funds in your account to the extent of your IPO Bid. If you saw this error that probablyt means you had insufficient balance in your account.

1 Like
3

Thanks Bhuvanesh.

but I can definitely say there was sufficient balance in my account. Unsure about it’s issue with account balance.