What is the maximum allowed bid quantity for retail OFS bids?
Retail bids for an Offer For Sale (OFS) are limited to a maximum value of ₹2 lakhs, and the maximum allowed quantity is dependent on the cut-off price set for the OFS. The maximum allowed bid quantity can be calculated as ₹2 lakhs divided by the cut-off price. The maximum allowed bid quantity for an OFS issue is updated on the bulletin page after the cut-off price is determined on the first day of bidding.
The bidding process for an OFS issue is conducted over a two-day period. On the first day, Institutional and HNI orders (bids above ₹2 lakhs) are collected. The second day is reserved for retail bids, and the cut-off price for retail bids is determined based on the bids received on the first day. Retail bids can only be placed at or above the cut-off price. To learn more, see Why is the cut-off price higher for retail OFS orders?
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