Gammon Infra IPO: Partial Payment Method Details
We had given you Gammon Infra IPO updates last time and now there are more to add to it. Here are some basic details about Gammon Infra IPO.
- Gammon Infrastructure Projects (GIPL), an infrastructure project development company promoted by Gammon Group.
- It is initial public offering (IPO) of 1,65,50,000 equity shares of face value Rs 10 each.
- The issue open today on March 10th and will close on March 13, 2008.
- The price band has been fixed between Rs 167 and Rs 200 per equity share.
As per the news we received, they have also opted the way of Reliance Power and other such IPOs to offer investors partial payment methods.
Gammon Infra IPO offers two modes of payment to investors.
Payment Method-1
The amount payable on submission of the bid-cum-application form (in case of retail individual bidders and non-institutional bidders) is Rs 50 per equity share (such that it shall not be less than 25% of the issue price). And the balance payable shall be paid by the due date. Non-resident bidders cannot make use of Payment Method-1.
Payment Method-II
The amount payable on submission of the bid-cum-application form in the case of retail individual bidders and non-institutional bidders shall be 100% of the bid amount, and, in the case QIBs, will be 10% of the bid amount with the balance being payable on allocation.
But honestly, I could not find such methods or options in ICICIdirect when cross-checked. This is little confusing to me either. When I chose to apply for 35 shares that is 1 slot, it asks me to pay Rs. 7000 and not Rs. 1750. I would need to investigate this further and find out why it’s not applicable though I being a retail investor. If you get any information on this, don’t forget to comment here.
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