What is the maximum allowed bid quantity for retail OFS bids?

What is the maximum allowed bid quantity for retail OFS bids?

For retail investors participating in an Offer For Sale (OFS), the maximum bid amount is capped at ₹2 lakhs. The number of shares you can bid for depends on the cut-off price set for the OFS.
Here’s how it works:
1.     Bid Limit: Retail investors can only place bids up to ₹2 lakhs.
2.     Bid Quantity Calculation: To find out how many shares you can bid for, divide ₹2 lakhs by the cut-off price. For example, if the cut-off price is ₹100 per share, you can bid for a maximum of 2,000 shares (₹2,00,000 ÷ ₹100 = 2,000 shares).
3.     Two-Day Bidding Process:
o   Day 1: Institutional and High Net-Worth Individual (HNI) bids (above ₹2 lakhs) are collected, and the cut-off price is determined.
o   Day 2: Retail bids are accepted based on the cut-off price established on Day 1. Retail investors can only bid at or above this cut-off price.
The maximum allowed bid quantity for retail investors will be updated on the bulletin page after the cut-off price is set.

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