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Why was the OFS allotment not received even though the request was placed before the cut-off?
In Offer For Sale (OFS) the allotment process is overseen by the exchanges, not the broker. The cut-off price is established through bids from the non-retail category, potentially resulting in a higher allotment price due to increased demand for OFS shares.
On the first day of the OFS, bids from the non-retail category (those exceeding ₹2 lakhs or corporate entities) are accepted. The cut-off price for allocation is determined based on these bids, shaping the subsequent allotment to retail category.
For detailed insights into the allocation methodologies of OFS issues, refer to the BSE circular.
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