[Resolved]  Axis Securities — Not adhering to terms and conditions mentioned

Address:

Hyderabad, Andhra Pradesh

I WANTED TO BID FOR AN IPO WHOSE BIDDING PERIOD IS 26 AUG-28 AUG THROUGH AXIS DIRECT TRADING ACCOUNT.

ON 27TH AUG, I had bid for an IPO on 27th Aug for 5 lots. I wanted to modify the bid for 14 lots on 28th Aug but Axis direct is not letting me do this.

The bidding period is 26Aug-28Aug.

On calling the call centre 2-3 times, it was told to me that the terms and conditions do not allow for modification of a bid. I have checked the terms and conditions and pasting relevant portion of the online text here:


Online IPO through ASBA

I/we understand that I/We will be able to revise as well withdraw my/our bid during the bidding period only. In case o[censored]pward revision, additional amount will be blocked from the linked Axis bank account to the extent of the incremental amount. However, in case of downward revision of bid, differential amount blocked earlier will not be released in my/our bank account. Such amount will be released only after allotment.


So, why is it that Axis direct is not letting me modify my bid.
On top of that, customer service agents have been just transferring my call back and forth without any help telling me lies. I have been told that the bid cannot be modified as the concerned department has already sent my bid?
Why am I being told lies about the terms and conditions? Please share the recorded call with this case number, I will complain to consumer court and SEBI.