the procedure of share allotmeallotment.
Meaning of share allotment:
. Allotment of a share issue among the application received form general public against the share offered for subscripttion and crediting to share allotted to demat account of the respective applicant is called share allotment.
Procedure of share allotment:
- Receiving the share application and blocking the application amount in the bank account of the applicant by recognised Bank branch for us bar procedure and submitting the application to Syndicate member appointed by the company for a publication.
- Uploading detail of a share application received like name of applicants ,class of investor, number of a share applied for, bid amount or cutoff price, application number, depositor participant ID, demat account number, amount paid, etc. By Syndicate member on electronic bidding system of a recognised stock exchange.
- Vendor khabren details of applications received are sent by the Syndicate member to the register to the issue and recognised stock exchange.
- Application received are classified into different categories of investor likely retail investors, institutional investors and employee of the company by registrar to the issue and a statement containing all detail is prepared..