Bajaj Housing Finance shares became a multibagger for investors as soon as they were listed. Those who were allotted shares in the IPO got a premium of 134 percent with the listing. Whereas many people did not get shares despite bidding for many lots. Now the reason for this has come to light that why they were not allotted shares? Due to which this golden opportunity slipped out of the hands of investors? This disturbance is also connected to the IPO of LIC and Tata Technologies. Actually, about 14.60 lakh bidding applications were cancelled in the IPO of Bajaj Housing Finance. This happened due to technical disturbance, due to which they lost the opportunity to get shares at a low price in the IPO.
Biggest disturbance after LIC
According to a news, out of the total bids in the IPO of Bajaj Housing Finance, 16 percent of the bids could not be completed due to technical disturbance and were disqualified. Earlier, such a large number of bids were disqualified during the IPO of LIC. During the IPO of LIC, about 20.62 lakh bid applications were rejected.
Big mess in Tata Technologies IPO
Earlier in the country, Tata Technologies IPO also got very good subscription. Its share was also listed at a premium of more than 140 percent. But even then about 6 lakh (5.98 lakh bid applications) were disqualified. In this way, the chance of getting shares also went out of the hands of these investors.
What mess did they have to face?
On the bid disqualification, banks and market experts say that most of the disqualifications have happened due to operational glitches. A large number of these are due to UPI process not being completed. There have also been many reports of malfunction in the UPS system. Even before this, lakhs of bids have been disqualified during many other IPOs in the country. This number was 1.59 lakh in Reliance Power’s IPO, 3.51 lakh in Doms Industries’ IPO, 4.14 lakh in Inox India’s IPO, 1.97 lakh in Premier Energies’ IPO, 9.60 lakh in Motisons Jewellers’ IPO and 4.94 lakh in Glenmark Life Sciences’ IPO. ( PLC & GT )
