What does cut-off price mean?
The cut-off price is the offer price at which the shares get issued to the investors, which could be any price within the price band. Here, you can find the price range in issue price 72 - 76 for this particular IPO. When you apply for an IPO at the cut off price, you won’t have an option to enter the price separately.
An IPO book building issue opens with a price range. An investor can place bids for the desired quantity in multiples of the lot size within the applicable range. Selecting the cut-off option while applying for the issue indicates your willingness to subscribe to shares at any price discovered within the price band through the book-building process, eventually increasing the possibility of an allotment.