IPO

Q What is an IPO?
When an unlisted company makes either a fresh issue of securities or offers its existing securities for sale or both for the first time to the public, it is called an IPO. This paves the way for listing and trading of the issuer's securities in the Stock Exchanges.
Q What types of instruments' Initial Public offerings are offered at Anugrah?
Initial Public offering of the following financial instruments are offered at  Anugrah
  • Equity
  • Non Convertible debenture
  • Bonds
Q What is the difference between "Fixed price issue" and "Book Built issue"?
On the basis of Pricing, an issue can be further declassified into Fixed Price issue or Book Built issue. Fixed Price Issue: When the issuer at the outset decides the issue price and mentions it in the Offer Document, it is commonly known as “Fixed price issue.” .
Book built Issue: When the price of an issue is discovered on the basis of demand received from the prospective investors at various price levels, it is called "Book Built issue".
Q What is a price band?
The price band is a band of price within which investors can bid. The spread between the floor and the cap of the price band shall not be more than 20%. The price band can be revised. If revised, the bidding period shall be extended for a further period of three days, subject to the total bidding period not exceeding thirteen days.
Q What is a bid lot?
A Bid-lot is the pre-determined number of shares which have to be applied for by an investor. It is different for each issue. There is a minimum lot size which is pre-decided by the company and mentioned in the application form. Eg: Minimum bid lot in IPO of XYZ co. - 10 Bid-lot Multiples of 10 Price Band - 100-120. It means that a retail investor cannot apply for less than 10 shares in that particular issue. The application for more than 10 shares has to be in multiples of 10 like 20,30,40,etc
Q What is price discovery?
Based on demand at various prices,the Issuer Company, in consultation with BRLMs decides the final price of the offer. The price thus finalized is called the discovered price.
Q Can I cancel my Bid for online IPO order ?
Yes, you can cancel your bid for online order anytime before Modification/ Revision / Cancellation cut-off time.
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