How can I place bids in the IPO application?
You can place bids for an IPO on Console as shown below:
Check the entire process to apply for an IPO in this article .
You can place up to 3 bids in an IPO application. For instance, the price range of an IPO is Rs. 100 to Rs. 105. You place the following bids:
Bid 1. 10 shares at Rs. 102
Bid 2. 150 shares at Rs. 101
Bid 3. 50 shares at the cut-off
In case the issue price is Rs. 103 or above then your only eligible bid is Bid 3. In case the issue price is Rs. 102 then higher of the quantities of Bid 1 and Bid 3 is taken (i.e. 50 shares at Rs. 102) In case the issue price is Rs. 100 then higher of the quantities of Bid 1, Bid 2 and Bid 3 is taken (i.e. 150 shares at Rs. 100).
Note: The blocked amount is the highest of the three bids. In the above case, the blocked amount will be highest of 10*102 = 1020 ,150*101 = 15150, 50*105 = 5250 which is Rs. 15150.