Update: I apologize for the error in this post where I opine that almost everyone has been allotted 1 lot; I spoke to a few people yesterday, and drew my conclusion from those conversations.
However, as is evident from your comments many of you didn’t get any shares. I am sorry about the error, and realize that I should have waited to get information from more people before publishing.
The MOIL IPO Allotment has been done today, and I think that everyone has been allotted 1 lot of 17 shares regardless of the quantity they applied for.
I say this based on the amount of money debited from the bank account. If you have applied for the MOIL IPO then please check your bank account, and I think it is quite likely that you see Rs. 6,056.25 debited from your bank account.
This means that you got 17 shares at the unit price of Rs. 356.25 (after 5% discount on Rs. 375).
Please leave a comment about the number of shares you applied for, and the money debited from your account, as that helps guess the ratio for future issues.
It is only apt that I highlight a comment made by Loney here earlier who accurately described what to expect in such cases where the over-subscription is reasonably high.
I think you should not have withdrawn the application. You should have applied for the minimum lot of 17 shares. Because, Karvy and NSE which will finalize the allotment has this particular habit of allotting shares even to people who bid for the minimum lot at the expense of people who apply for the maximum lot size within the limit. Therefore there was a probability that you were alloted 17 shares even if you subscribe for just one lot.
Thanks Loney!
It’s really sad to hear that so many people did not get allotment of any shares despite applying for lots in good numbers. It all because of unexpectedly high subscription due to the mad rush after stellar listing of Coal India.
The probablity of allotment for application of different lots is shared below. For those who could not get shares, better luck next time.
Lot Sh Applied Allotted Sh Ratio Of Allotment Probabilty of Allotment
1 17 17 1 out of 31 3%
2 34 17 3 out of 47 6%
3 51 17 2 out of 21 10%
4 68 17 6 out of 47 13%
5 85 17 6 out of 37 16%
6 102 17 6 out of 31 19%
7 119 17 7 out of 31 23%
8 136 17 8 out of 31 26%
9 153 17 9 out of 31 29%
10 170 17 10 out of 31 32%
11 187 17 6 out of 17 35%
12 204 17 13 out of 34 38%
13 221 17 13 out of 31 42%
14 238 17 15 out of 34 44%
15 255 17 9 out of 19 47%
16 272 17 1 out of 02 50%
17 289 17 19 out of 35 54%
18 306 17 20 out of 33 61%
19 323 17 8 out of 33 24%
20 340 17 7 out of 11 64%
21 357 17 2 out of 03 67%
22 374 17 22 out of 33 67%
23 391 17 8 out of 11 73%
24 408 17 29 out of 38 76%
25 425 17 26 out of 33 79%
26 442 17 43 out of 53 81%
27 459 17 28 out of 33 85%
28 476 17 51 out of 58 88%
29 493 17 10 out of 11 91%
30 510 17 31 out of 33 94%
31 527 17 49 out of 50 98%
I had applied for the maximum shares one could apply for and got only the 17 shares. perhaps people who applied for smaller numbers were not allotted any – could this be the basis?
yup – 17 shares for me too.
applied for 117 . Got ZERO !!
Applied for 255 shares but got only 17.
Refund has come.
From next time i will wait till the last day of issue and based on the subscription factor apply for limited shares.
My money was stuck for no reason for these many days.
me also apply for 17 shares……but status : sorry no allotment for you……….ok,allright ,god is great
Even I had applied for 17 shares but bad luck this lottery 🙁
I applied for 10 lot …170 shares ….got “ZERO ” & the sad thing is that , the lien is also
not removed till now
Which bank is it?? Please wait till Monday EOD..otherwise please flag it with your bank…
I applied for 4 lots from my sharekhan and 4 lots from ICICI demat.
I was alloted 1 lot in sharekhan DP and none in ICICI.
First of all I must say.. increasing the limit to 2 lakhs was a bad idea.. without increasing the share of retail investors from 35% to 50%. It seems every one has got one lot (17 shares) only.
@ Meetali : why on earth would you invest without ASBA.
Here is a link for understanding the basics of investing in an IPO. It explains the basic concepts : http://www.rediff.com/getahead/2006/apr/04ipo.htm
Happy investing.
SEBI PLEASE increase the limit for Retail investors to 50% of medium sized IPO. Half of the retail investors exit and institutions buy the shares any ways on listing.
Thanks for the link
Well, I did not invest thorough ASBA because I applied online through Sharekhan which requires you to transfer the entire amount of application into your IPO account.
Can you tell me the procedure and the site through which one can apply through ASBA.
Thanks
Hi i applied for 255 shares i did not received a single share
Hi,
I applied for20 lots and got none.
Rgds
The issue size being moderate and demand being high, it was obvious that luck would play a big factor in getting some shares. I went by the oversubscription figures and applied for 425 shares (25 times the lot). Was lucky to get 17 shares. It was worth the chances taken.
Yes my DH also got none but I got one lot.
Thanks..
I checked at the karvywebsite. I have received allotment of 17 shares..
However, one of my friends who inspite of applying for 408 shares i.e 24 lots did not receive a single share….Does anyone know the basis of allotment of shares
Hey Meetali, MOIL was priced at upper end. I assume your friend did not get any share, because he/she might have applied at lower band.
Hi I had applied for 15 lots =255 shares through my online broker without ASBA.
I have not got any intimation of allotment yet nor is my bank account credited with refund money….Any idea why this is getting delayed..
Hi Meetali…Karvy website has updated info on the MOIL IPO allotment…link http://mis.karvycomputershare.com/ipo/ …All the best
MEETALI,
u have not recd any allotment.
I’ve applied two applications, 1 full (527 shares) and other for 493 shares but got only 1 lot in each. Due to this increase in retail limit and good issues oversubscribing much, I think there’s not much stem left in IPO game.
– Jagbir
This is strange, so my lien on money got released? I have allplied for 31 lotss .But i dont get any share.What can i do?Where i register my complaint.
This is strange, so what happened the lien on your money got released? I have allplied for 31 lotss .What can i do?
I guess the allotment basis published here is true :
http://indiaer.blogspot.com/2010/12/moil-ipo-allotment-ratios-and-basis.html
I applied for 15 lots and got 17 shares.
Perfect. I think that explains the right methodology.
Regards
Raja
I have not been alloted a single MOIL share..my first time in the market and yeah i came back empty handed 🙁 …but not a problem i am habitual to such situations..hope Karvy people will allot me some SCI shares..are you listening guys 🙂
This is strange, so what happened the lien on your money got released? All of it?
Yeah…complete lien amount is back…one good thing which happened yesterday… 🙂
You are not alone MS. I got a big nought too. This happens in all highly oversubscribed issues. As I am saying time and again, the idea of increasing the retail limit to Rs.2 lakhs is not in the interest of small investors and in all future issues where the issue size is small to medium, retail investors will get only binary number of lots allotted.
With regards to SCI, since the oversubscription is not too big, you can certainly expect allotment.
Hi Loney,
I completely agree with you. The Rs 2 Lakh limt is a very bad decision taken by governement. It has become very tough for small investor now to come in the IPO market and get benefited as you rightly said that every good IPO now be so heavily subscribed and people will not get anything out of it.
but my point is, what are we doing from our side, so that goverment can review their decision. Are we as an individual providing feedback in right forum at right pitch of the voice. I wish, that if I could form a group of volunteers, who could preapare a letter, voice our opinions, and sent individully to govt/SEBI against this limit.
Not sure, it will work, but at least we register our protest.
Regards
Mradul Sahney