Can retail investors apply for an OFS below the cut-off price?
During the first day of an OFS issue, bids are collected from the Non-retail category. Bidding is opened for retail investors from the next day, where the total bid value (across exchanges) must be less than Rs. 2 lakhs.
- The exchanges accepts Non-retail bids on T day.
- The exchanges allow Retail investors to place their bids on T+1, at or above the floor price.
- As per OFS guidelines, allotment for Retail Investors is done based on the cut-off price determined from the the Non-retail category. Bids placed by Retail investors below this cut-off price are not considered for allotment.
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