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Reliance Power IPO has 2 Payment Methods
The Payment Methods available to investors to apply in this Net Issue are as follows:
1) Payment Method - 1
A) Only Retail Individual Bidders and Non-Institutional Bidders are eligible for this method QIBs cannot submit a Bid under this Payment Method.
B) While bidding, the Bidder shall make a payment of Rs. 115 per Equity Share, irrespective of the Bid Price. Investors should note that the total Bid Amount will be used to determine whether a Bid is in the Retail Individual category, Non-Institutional category or not, and not the amount payable on submission of Bid-Cum-Application Form.
C) At the time of allotment:
1. If the amount paid by the Bidder is equal to or higher than the total amount payable (being the Issue Price multiplied by the number of shares allotted) by the Bidder on the Equity Shares allotted to the Bidder, we reserve the right to adjust the excess amount towards the Balance Amount Payable and issue fully paid Equity Shares only. The excess amount, if any, after adjusting the Balance Amount Payable shall be refunded to the Bidder (i.e., Refund = Total amount paid on bidding minus the total amount payable on the shares allotted).
2. If the amount paid by the Bidder is less than the total amount payable by the Bidder (being the Issue Price multiplied by the number of shares allotted) on the Equity Shares allotted to the Bidder, we reserve the right to adjust the excess of the amount received from the Bidder over the Amount Payable on Submission of Bid-cum-Application Form towards the Balance Amount Payable and issue a Call Notice for the balance.
2) Payment Method 2
A) Bidders under any category can choose this method.
B) While bidding, the Bidder shall have to make the full payment (Bid Amount multiplied by number of Equity Shares bid) for the equity shares bid. Bidders in QIB category will be required to make payment of 10% of the Bid Amount multiplied by the number of Equity Shares bid, with the balance being payable on allocation but before allotment.
Source : http://www.greymarket.co.inLabels: Equity Shares allotted to the Bidder, Only Retail Individual Bidders, Payment Method 2, Payment Option, Reliance Power IPO, Reliance Power IPO Payment options |
