Yes bank: Follow-on Public Offer (FPO)

Suppose I have existing 100 shares of yes bank @80 each and I got another 1000 shares @13. so if i got allotment then my average will be around 12.6 {(10080)+(100013)}/1100
Am i right?

Your average price would be 19.1

100 * 80 = 8000
1000 * 13 = 13000

8000 + 13000 / 1100 = 19.1

Hi Team, @mohitmehra,

Is there a lock in period if I buy shares from open market? I know there is no lock in period on shares through FPO. My thinking - If I buy through FPO there is no lock in period and I can sell all 1000 shares as soon as I make profit.
If I buy through open market assuming lower price than Rs12, and if there is lock in period, then 75% shares will be stuck for 3yrs.

So based on answer I will take a call.

Lock-in period is only for shares bought before March 13, 2020. Newly bought shares through open market will not have any lock-in period.

For retail investor ,what is the maximum number of shares we can apply for? And how many will be alloted @cutoff price?

Retail Investors can apply for maximum upto worth Rs. 2 lakhs, which means 15 lots or 15000 shares.

In zerodha console,I see three entries…should I give 1000,5000 and 9000 to get 15,000 shares?

Those fields are in case you want to bid at different price and quantity and for allotment only the best off the three bids will be accepted not all three, Read this article to know more. If you want to Buy 15000 quantity at cut-off price then it is better to place it in one field.

On 17th July,can I apply for fpo after 4.30 p.m but before 5 pm?

Yes, FPO is open until 5 pm, you can apply anytime until then.

IS FPO Closed?? I am not able to apply

It is open. you can raise ticket at support.zerodha.com if you are facing any issues.

Yes bank fpo subscribed 0.47 times in retail category.does this mean all retail investors will get the amount of shares they applied for?

Yes.

I applied for the Yes Bank FPO using Zerodha [AROUND 11AM on 17th July]. Its midnight now and still haven’t received any request to block funds. Email received by Zerodha says that i should get one before midnight and it was past that. It furthers said that i have until 12pm of 18th July to accept it otherwise my application will get rejected.

Applied for Yes Bank FPO for total of RS 37,000/- (RS 13,000/- at cut off for 1000 shares + RS 24,000/- at fixed price of RS 12 for 2000 shares) using ICICI upi. But the amount blocked in my ICICI account is RS 61,000/- (13,000 + 24,000 + 24,000). Zerodha shows amount blocked is RS 13,000/- only. Today morning received email from NSE that my FPO application was for RS 37,000/- Bank says ask the Merchant, Zerodha says ask the Bank. What should I do in this case as there is extra money blocked?

I have applied for YES bank FPO through Zerodha account on 17th JUL 2020 (yesterday) at 4:55 PM, even though i have entered correct upi details I have not received any UPI mandate request to block the funds for my application, due to this my application is deemed to be incomplete. Can anyone please help me in this regard.

Thanks,

you had time upto 12 pm today to accept the mandate, but since you didn’t get any request, to my knowledge, your bid stands rejected. Also, just a suggestion, if you are cutting it this close, try using internet banking asba.

I have not recieved UPi payment mandate ? I am using Gpay ICICI Bank have not received mandate till now (order placed at 0101 pm on 17jul)

Hi Vikas, the block is performed by the banks involved i.e. Kotak (the issuer’s bank) and ICICI (your bank). The stockbroker cannot control the mandate leg of the transaction and is only allowed to submit your application at the exchange. You should reach out to the bank and insist on getting connected with the right team.