Nagarajan Queries

November 21, 2010   ·   0 Comments

Nagarajan
nagarajank79@gmail.com wrote:

Hello Rajesh. I applied for 325 shares of PowerGrid and gave a cheque of Rs.29250/- through Karvy which was debited from my bank on 15th Dec. Going by the oversubscription I think I would be alloted 90 shares approximately. But I still DO NOT have any information on the allotment status. How will I be intimated? Whom should I approach? How does the refund happen? Please clarify since this is my first investment in terms of shares.

Regards
Nagarajan

Hi  Nagarajan,

Your Calculation is perfect. You should get 84-90 shares of Powergrid.Now coming back to your Query,

1) You will get an intimation through email if you attached your Dmat Account with that after the allotment. Most of the Companies such as Link Time intimates through Email. You may also get an email & Msg from your Broker on your Holding if your Broker provide such Facility. In any case if you dont want to wait for the mails, once the allotment is out, It will be updated here on the website. You can check your status on their Website with the application no. as each applicant is given an application no. & You would have also got one when Karvy applied for u.

2) Refund happens according to the Bank with which your Dmat account is attached. Generally, With Provate Bank it comes Online itself. You can check that if you use online banking then & there itself. Generally for certain PSU’s, Money comes back in the form of Cheque. Then you have to submit it your bank & wait for its clearance. I heghly recommend that you have a Banking Account in HDFC or Axis Bank attached to your DMAT Account.

& Most Imp. i wish u luck with your first investment. 🙂

Rajesh Singla

Rajesh is the founder & CEO of Stockssavvy, Stocks analyst,financial advisor by choice,software engineer by fate,biker,gamer,cricket lover n enthusiastic person. He believes in doing things not just to get by but to get Ahead...

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