SBI Tier 2 Bonds 2010 - Oversubscribed as expected!!

After the over subscription to the bonds as expected , now the question that may be in minds of those who applied for the issue is - What will be the basis of allotment??

"The bond is reserved 50% for retail, 25% for HNI and 25% for Corporates etc. If one category is left under-subscribed then their quota will be allocated to Retail, HNI and Corporate in that order.

If there is over-subscription – then from the applications received on the day of over-subscription – preference will be given to Series 2 Lower Tier II Bonds on a first come first serve basis, and balance will be allotted on pro-rata basis to Series 1 Lower Tier II bonds."

So, you have a better chance of allotment if you had applied for series 2 ( 15 year duration)

 ( * from whatever can be seen in prospectus).

So if you have applied for it, all the best and have the fingers crossed!

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