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!
"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!
No comments:
Post a Comment