Hi I applied for 2100 shares of power grid by online CBI ASBA in the name of a family member, my application was rejected on technical grounds. I called up the Karvy customer service helpline and sent them an email. They said the reason was "APPLICATION WITH PAN MULTIPLE". That''s what was in the system, and they can''t do anything more, and the call centre person refused to let me talk to some manager. I don''t understand, I submitted was ONLY ONE application with the correct PAN, and the PAN number matches with what is recorded with depository participant. I checked online allotment status with the PAN, and it is showing details and allotment for some other person in Ahmedabad. I have written to Karvy again, but not received any reply. Can some expert suggest what to do? Will complaining to SEBI help? Thanks, Vineeta
226.1. CLD| Link| Bookmark|
January 5, 2014 8:53:59 PM
Top Contributor (500+ Posts, 100+ Likes)
It seems that same PAN no is being used by another person with the same name. First u check up actual PAN details from UTI infrastructure technology & services ltd. Then only the issue can be resolved
Hi Thanks for your reply. The name of the other investor who is alloted shares is different if I do a lookup of allotment by PAN number. As individual I cannot check from UTI infrastructure technology & services ltd. However the pan number I used is correct and several past IPO and FPO have been allotted to from this PAN and same DP Account and have filed income tax returns from this PAN for several years. Any suggestions would be welcome on how to proceed with this.
Log in to scores.gov.in. Address the matter to sebi writing i am not getting proper response from Karvy peoples. Believe me karvy H.O will contact you & tell you the reason. Forget about manager :)
226.4. CLD| Link| Bookmark|
January 6, 2014 9:00:11 PM
Top Contributor (500+ Posts, 100+ Likes)
Better way is to send E-mail to SEBI with a copy to Karvy.
226.5. SONMAYA| Link| Bookmark|
January 7, 2014 6:40:05 AM
IPO Mentor (1300+ Posts, 400+ Likes)
Do write to sebi they give give reply..."..in one such case here in Mumbai one applicant has got shares along with refund order."...............despite his amount of rs.192375/- is lying in his bank a/c..............that means he has got profit of rs.200000/- .......May be time being.....,,
It is adviseable that you send Email to SEBI along with Karvy and intimate To income tax authorities to check weather they have issued the subject PAN Number to Two persons once you know the answer,you can make out it is mistake by IT Depatement or some one is using freudently your PAN , second thing you may have entered your PAn correctly but there may be errer in uploading your detail though chances are remote. From income tax sight you can check the name of allottee of particular PAN.
I have been allotted full what I applied for. It''s yet to be credited to my DEMAT Account. I would like to know if these could be sold immediately or there is some time we need to keep and then sell.
224.1. CLD| Link| Bookmark|
December 23, 2013 9:16:23 PM
Top Contributor (500+ Posts, 100+ Likes)
You can sell on the day or there after when shares are credited into D,mat
People who had sold in futures market expecting price to fall to 90 levels are buying today. All people who had applied are making money as the IPO was subscribed heavily by brokers who have cornered most of the shares. Stock is expected to do well till FNO expiry due on 26 Dec
Those who smiles when stock is going north cries when stock is heading south. Brother book profits in small lots as F&0 OI shows expiry to be near 95 levels and not 115 levels
I applied though i had bad experience with SCI FPO, Got 763 shares and made a cool profit of 9300Rs after brokerage. Made my day today...after long time i made profit in primary market...