PowerGrid FPO Allotment Declared

by Manshu on November 23, 2010

in IPO/NFO

There have been some emails and comments about when PowerGrid FPO allotment will be declared, and how many shares a person can expect, so I thought I’d create a small post letting you know that the allotment has been declared and can be checked at Karvy’ s website.

After you find out how many shares got allotted to you please leave a comment and let us know what the ratio was, so that we can use that as future reference for other IPOs.

On a totally different subject – Yesterday I created a page called “Suggest a Topic”, and you can use that to suggest topics for future posts.

A lot of you reply to emails with suggestions for future topics, and that’s great, but sometimes these emails just get buried in my mail box, so I thought I’d create a separate page for this, and better track your suggestions.

You can click on the green call out on the left side bar (just under Seeking Alpha logo) to access this page, or click here.

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{ 41 comments… read them below or add one }

G November 23, 2010 at 9:20 am

Hi,
I applied for 1105 shares at cut off price of which I am alloted 296 at discounted price of 85.5.If I am not wrong the retail subscription was over 3 times .
Regards,
G

Reply

Manshu November 23, 2010 at 9:37 am

Thanks a lot for that info G – I think the final over-subscription for retail was close to 4 at about 3.85 or something and the ratio in your case is about 1/4th of the applied shares.

Thanks!

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L November 23, 2010 at 10:08 pm

I had applied for 650 shares, received 175.

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Manshu November 24, 2010 at 6:10 am

Thanks L. So you got a slightly better ratio than G, so looks like the people who applied for a lower quantity got a slightly better ratio when compared with people who applied for a larger quantity.

Has anyone applied for a different lot size?

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Rajesh Khanna November 24, 2010 at 6:29 am

I had applied for 720 and got 192 shares

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Manshu November 24, 2010 at 9:52 am

Thanks Rajesh!

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Karthik November 24, 2010 at 6:29 am

I had put 385 shares and got 105

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Manshu November 24, 2010 at 9:51 am

I think you got the ratio closest to the over – subscription in the retail segment, and the best ratio amongst the numbers shared here. Thanks!

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amit kumar November 25, 2010 at 1:01 am

Hi i have applied for 195 shares and not even allotted a single shares..i got zero..
how come ?

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Manshu November 25, 2010 at 5:14 am

How did you apply for the IPO, and have you got your money refunded yet? It looks like this is the case of some errors on the form.

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Prakash Singh November 25, 2010 at 3:38 am

I applied for 130 and got 0

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Manshu November 25, 2010 at 5:15 am

Has the money been refunded, and was there an error on the form due to which the allotment was not made Prakash?

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Akshat November 25, 2010 at 4:05 am

I applied for 130 and got 116…

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Manshu November 25, 2010 at 5:16 am

wow…..that’s a pretty good ratio. Congratulations!

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salochna rani November 25, 2010 at 8:28 am

power grid fpo no of shares applied for520 Rs46800/=
application no 3885687
demate account no 1202290000051801
name .Salochna Rani

Reply

salochna rani November 25, 2010 at 8:30 am

pl.inform allotment status.
Salochna Rani

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ILESH SHAH November 25, 2010 at 9:25 am

I HAD FILLED IN POWER GRID ISSUE.BUT NEITHER I’VE BEEN ALLOTTED SHARES NOR MY AMOUNT HAS BEEN REFUNDED.PLS HELP ME.

Reply

Manshu November 25, 2010 at 10:54 am

Salochani, Ilesh,

For people who have been allotted zero shares go to this link, and against your application number see if you have been allotted any share or not.

http://mis.karvycomputershare.com/ipo/

If you have zero allotments then talk to the agent who got you this to see why this has failed.

Reply

amit kumar November 26, 2010 at 3:02 am

hi Manshu money is refunded in my account.. but i dont know why i was not allotted any shares .i applied online through sharekhan .. Do you have any idea about this?

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Manshu November 26, 2010 at 6:34 am

Normally it’s when something is wrong Amit, but if you applied online then that shouldn’t happen. You should check with Sharekhan to see what the cause was, and if possible please leave a comment here as well after you come to know so that others can benefit from that knowledge. Thanks.

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malay November 26, 2010 at 4:29 am

i have applied for 1105 share not get refund or share and money withdrawn should i case

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Manshu November 26, 2010 at 6:29 am

Check with your broker first to see what they say, and what the time – frame for refund is.

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malay November 26, 2010 at 10:33 am

thanks for reply
i checked with broker he says double bidding has done and from karvy says they should give refund by next week so i have dual problem in i lost powergrid and MOIL gain both so should i get refund quicker or else what could be done

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Manshu November 26, 2010 at 10:39 am

wow, that’s unfortunate. better luck next time…..thanks for your reply Malay. Appreciate it.

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Amit November 27, 2010 at 12:55 am

I applied for 1105 shares and got “0” in one of my applications and have got the completed amount refunded. I checked the status on http://203.199.177.158/ipo/ and that also shows 0 allotment. Weren’t the applicants with application of 1105 shares supposed to get 296/297 shares? What could be the reason? I checked with the broker and he has no clue.

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Manshu November 27, 2010 at 3:57 pm

Sounds like an issue at the broker’s end, which broker was it Amit?

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Amit November 29, 2010 at 11:00 pm

Karvy

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Manshu November 30, 2010 at 4:20 am

As Malay suggested earlier, please check with Karvy, as other people have also faced similar issues.

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malay November 29, 2010 at 12:30 am

ask to karvy becoz it is their fault i believe if they show 0 share i believe

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Lalit Kumar Agarwal November 29, 2010 at 2:52 am

I have applied for 130 shares but I did not get any share .
May I know the reason.
Please reply
Thanks

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Manshu November 29, 2010 at 4:30 am

Please check with your broker, and they should at least have some sense of what went wrong. Which broker was it?

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Bhavana Jaiswal November 29, 2010 at 11:17 pm

I applied for 65 shares (min. size) since it was my 1st IPO. I got 0 allocated. I applied through ASBA from Kotak. I’ve read all the comments above – does it happen that 0 shares are allocated to people who bid for 1 lot, if the IPO is over-subscribed?

Im just trying to figure out whether there was an error, or this is natural.

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Bhavana Jaiswal November 30, 2010 at 7:27 am

I checked on the Karvy site. My app. ID as per my DMAT is 48599999|0023759. if i enter the first 8 digits, i.e. 48599999 – I get somebody else’s details. If I enter the last 7, then it goes onto another form which insists I fill in my cheque / DD no. I applied online! can you pls. help me out? It’s my first application through ASBA…

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MS November 30, 2010 at 10:35 am

All i would say is “This is scary”…

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Manshu November 30, 2010 at 1:16 pm

That’s not all that scary MS :) The stock traded at about 91 or something recently so Bhavana’s loss is really the fact that she didn’t get the stock at 85.50, but could have always bought it at 5.50 bucks more.

That’s not a pleasant situation to be in, but a lot worse happens in equities where it’s not uncommon to see people lose up to 90% in a stock sometimes!

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Manshu November 30, 2010 at 1:13 pm

Hi Bhavana,
Here are some thoughts on your questions.

1. People with 65 shares have received 65 shares, so you should have gotten 65 shares.

2. What happened in your case is probably something out of the ordinary, so you are well advised to talk to Kotak and ask them what’s up with the application number showing someone else’s credentials.

I tried to look up more info on this, but couldn’t find anything more than this. I think you should check with Kotak on what happened, and see if they have a reasonable clarification.

If possible, please leave a comment here if you find out what went wrong.

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Manshu November 30, 2010 at 8:58 pm

Hi Bhavana,

After I left a comment Loney left another quite detailed comment, which is way better than what I had said earlier, and I think you’ll find it useful.

Here is the link to what he says:
http://www.onemint.com/2010/11/27/moil-ipo-subscription-numbers/comment-page-1/#comment-111556

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Bhavana Jaiswal November 30, 2010 at 10:26 pm

Thanks Manshu. I’ll be taking Kotak’s case on Saturday. Will definitely let you know if I find something. On the other hand, I’m planning to bid for MOIL now. So if somethign similar happens again, I’ll know for sure there’s some defect in the Kotak ASBA facility.

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malay November 30, 2010 at 11:23 pm

myself still not get the refund anybody with this issue what to do

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Manshu December 1, 2010 at 8:22 am

Please talk to your bank, or broker and they should either tell you an expected time, or if there is an error somewhere they should tell you that.

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BIJU JOSEPH December 21, 2010 at 7:08 pm

sir i applied for moil at the market price of525,on the first day for 250 share but my fund had a shortage of 30000/-.even though the share were bought for me the same day but in my mail i got the status showing the fund shortage.Now it is since three days i hae applied so far i have not been allotted the share.what might be the problem .The amount corresponding to some 185 share were dedeucted. from my account

Reply

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