Reason why no shares were obtained in the IPO is revealed
With the listing of Bajaj Housing Finance shares, it became a multibagger for investors. Those who were allotted shares in the IPO got a premium of 134 per cent along with the listing. While many people have not been allotted shares despite bidding for many lots. Now the reason for not being allotted shares has come to light? Why did investors miss out on this golden opportunity? This disruption is also related to the IPO of LIC and Tata Technologies.
Actually, around 14.60 lakh applications for the Bajaj Housing Finance IPO were cancelled. This happened due to a technical glitch, due to which they lost the opportunity to get shares in the IPO at a cheaper price.
The biggest mistake after LIC
According to an ET report, 16 per cent of the total bids in Bajaj Housing Finance IPO could not be completed due to technical glitches and were disqualified. Earlier, during LIC’s IPO, a large number of bids were disqualified. At the time of LIC’s IPO, around 20.62 lakh bid applications were rejected.
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Earlier, Tata Technologies’ IPO had also received very good subscription in the country. Its shares were also trading at a premium of over 140 per cent. But even then, around 6 lakh (5.98 lakh tender applications) were disqualified. Thus, the opportunity to acquire shares from these investors was also lost.
After all, what problem did you face?
On the disqualification of bids, banks and market experts claim that most of the disqualifications are due to operational irregularities. A large number of this is the failure to complete the UPI process. There have also been many reports of malfunctions in the UPS system.
Even before this, thousands of bids have been disqualified during many other IPOs in the country. This number is 1.59 lakh in Reliance Power IPO, 3.51 lakh in Doms Industries IPO, 4.14 lakh in Inox India IPO, 1.97 lakh in Premier Energies IPO, 9.60 lakh in Motisons Jewellers IPO and this number is in Glenmark Life Sciences IPO. It was 4.94 lakh.
