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The earlier norm was to bid huge amounts in a single application and corner shares in allotment. Now, it has changed to putting up multiple applications by turning to friends, family or even foe, said experts
Earlier, HNIs used to put in huge bids and corner shares in the allotment process. SEBI changed the rule of proportionate allotment and converted it to lottery in case of oversubscription
It appears that block deals are here to stay. According to Nuvama Alternative Research, between August 22 and December 31, a total of 37 companies are slated to have their pre-listing shareholder lock-ins, both for promoters and non-promoters, lifted. The promoters and non-promoters may look to book profits through block deals when the lock-ins end