“Verified”, “Unverified” & “Rejected” Meaning in Mero Share

Verified, Unverified & Rejected Meaning in Mero Share

“Verified”, “Unverified” & “Rejected” Meaning in Mero Share

When you apply for IPO, FPO, and Right Share using Mero Share you see three statuses before allotment – “UnVerified“, “Verified“, and “Rejected“. In this article, we are going to explain what these statuses are in detail.

How to Check Statis in Mero Share?

First of all, let learn how to check the status in Mero Share. After you apply for IPO, FPO, and Right Share you can check the status. Follow the following steps.

  1. My ASBA
  2. Application Report
  3. Click in “Report” and there you will see the status.
ASBA Status in Mero Share copy
Application report in Mero Share
Application status of Mero Share

Verified”, “Unverified” & “Rejected” Meaning

  • Verified – Your application is received by the bank and your amount is blocked for the applied share. 
  • UnVerified – Your application has been received by the bank and is processing to block the required amount for the applied share.
  • Rejected – Your application is received by the bank and rejected due to various reasons such as insufficient balance, wrong BOID, Duplicate BOID, wrong lot unit, unregistered CRN., etc. In every rejection status, you see the reasons such as Duplication entry, insufficient balance, etc. You have to re-apply for the application as per the report.

Reasons for Rejection of IPO in Mero Share

In every IPO,  many new applicants get rejected in the verification process. So, make sure you do not make these mistakes while you apply for an IPO. The common reasons for IPO rejection are as follows.

  • Applying from multiple accounts by a single person in a single IPO.
  • Insufficient balance
  • Incorrect entry. of BOID
  • Unregistered CRN
  • Selection of odd-lot unit
  • Expiration of Demat account.

Also – 7 Mistakes To Avoid While Applying For IPO

Wy IPO application is UnVerified in Mero Share?

In general, it takes 1 to 4 days to verify your application in Mero Share. It all depends on the number of applicants, internal processing of respective banks. You do not need to worry about the “UnVerified” status. After the issue closing date, all the applications are either rejected or verified. 

What if your application is rejected without any reason? 

If your application is UnVerified even after the closing of the IPO/FPO issue, you have to contact your respective banks. They will tell you the reason for the UnVerified status. You have to manually solve the problem after then. You should see the clear reason for the Rejection status. You have to solve the problem as per the suggestion and reapply for the issue (If you have time). 

Mero Share IPO Status Share Gyan

IPO status in Mero Share and its meaning

Status – UnVerified

Meaning – Your application is received by the bank but has not yet blocked the amount from the bank.

Status – UnVerified

Remark – UnVerified- Block Amount Status – Generated

Meaning – Your application is received by the bank and the bank is doing an internal process to block the required amount from the bank.

Status – Verified

Remark – Verified – Block Amount Status – Amount Blocked

Meaning – Your application is accepted by the bank and the required amount is blocked by the bank for applied shares.

Status – Rejected

Remark – Rejected – Due to insufficient Balance 

Meaning –  You do not have enough bank balance. If you are applying for 10 units of IPO (having Rs. 100 face value), you must have at least 1100.

  • Rs. 1000  for 10 units shares
  • Rs. 100 for CASBA Charge 

Also  – Check CASBA charges of Nepali banks here

Status – Rejected

Remark – Rejected – Due to duplicate entry 

Meaning –  You have applied multiple times. If you already have shares of the employee, local or you applied for multiple times for the same company, your IPO will be rejected. 

Status – Rejected

Remark – Rejected – Incorrect BOID

Meaning –  You have entered the wrong BOID (Demat number)

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