Hi, i applied in Powergird FPO for 1105 shares and been alloted just 296 shares so rest of money till now not have been credited to me either through ECS or bank cheque..
i gathered some information about my investment & refund in karvy registrar as per that cheque has been sent to me but till now (about 20 days passed) not received... i sent a lot of mails to karvy and personally called them but no reply was there... so As per SEBI new rule the refund process should complete within 10 days of listing of shares in market for any FPO/IPP allotment.. so this karvy registrar is viloting SEBI rules and have blocked a crores of rupees (hard earned money) of investors and making money out of that investment... if this company blocks this huge amount for 1 month then imagine how much it will earn out of it as a interest...
if this company does not have any loyalty, user friendly environment then why it is called the india's largest REGISTRAR and why companies select it as a REGISTRAR for their FPO/IPO listing... as this type of nature& response of this REGISTRAR may spoil the name of other FPO/IPO listing companies and may stop investors to invest in FPO/IPO with heart... this all above regrets are not only with me but most of the investors who invested in powergrid FPO...
kindly look into the matter and if any loyal person of this REGISTRAR have any reply kindly submit...
thanking u...
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