Terms and Conditions for IPOs
General
The terms and conditions stipulated herein shall be in addition to all the terms and conditions applicable to all users visiting the website of Diamond Hands LLP (https://021.trade). These terms are to be read in conjunction with all other applicable documents including account opening forms, rights and obligations, risk disclosure documents, policies and procedures, and privacy policy of Diamond Hands LLP. Diamond Hands LLP is a trading member of NSE and BSE, registered with the Securities & Exchange Board of India ("SEBI") and having Registration No. INZ000307157. This website is owned, operated and maintained by Diamond Hands LLP, a limited liability partnership incorporated under the Limited Liability Partnership Act, 2008 having LLPIN: ABA-0634, and having its Registered Office at: 2007 & 2008, Cyber One, Plot No. 4 & 6, Sector 30A, Vashi, Navi Mumbai, Thane, Maharashtra - 400703. These mentioned Terms and Conditions govern the use of the IPO application facility provided by Diamond Hands LLP ("021 Trade") through its website, trading platforms, and mobile applications. By accessing or using the platform, the user agrees to comply with all applicable SEBI regulations, exchange guidelines, and these Terms.
- Pursuant to you being a client with Diamond Hands LLP and based on the consent provided by you, Diamond Hands LLP would collect orders and place them on your behalf onto the Exchanges, as per the rules and procedures set by various regulators and authoritative bodies such as SEBI, NSE, BSE, and NPCI. Electronic records of such consent shall be maintained for regulatory and audit purposes.
- You confirm that you have read and understood the Red Herring Prospectus (hereafter referred to as the "Prospectus") of the company issuing the IPO (hereafter referred to as the "Company"), accessible through links provided on the 021 Trade application window or trading platform, along with the Issue Bid-Cum Application form and all applicable risk factors published by the Company, before applying for a particular bid or IPO.
- By applying for any such issue or IPO on the 021 Trade platform, you agree to have provided authorisation and instructions to Diamond Hands LLP to act on your behalf and to do all such acts, deeds, and actions as may be necessary to complete the IPO or issue application.
- You agree that if the application amount cannot be blocked from your bank account due to technical failure of Diamond Hands LLP, the UPI application used, the Exchanges, the merchant banker to the issue, or your bank, neither of the parties shall be held liable for such technical failures.
- In case an application or bid is made for and on behalf of two or more people together via a joint account, the first applicant name will be the first holder in whose name the trading and demat account was opened with Diamond Hands LLP. The other joint names for the purpose of the application will be in the same sequence in which the demat or depository account is held.
- If one or more demat (Depository Participant) accounts are linked to a trading account, the primary demat account attached to the account will be considered for the IPO application. Further, the bank account linked to the primary demat account must maintain sufficient funds for the IPO application.
- Diamond Hands LLP reserves the right to accept or reject any bid or application in whole or in part without assignment of any reason, including but not limited to incomplete documentation, information, or consents provided by you, under any rules or arrangements prescribed by the Exchanges, SEBI, or merchant bankers.
- Diamond Hands LLP shall not be liable for any non-acceptance or rejection of bids or applications due to insufficient balances maintained, or applications made outside banking or market hours specified for IPO windows.
- If the whole or any part of performance of the respective obligations of Diamond Hands LLP, or any intermediary involved in between, is prevented or delayed by natural calamities, war, arson, civil disturbance, unavailability of communication systems including the internet, breach or virus in processes or payment mechanisms, sabotage, acts of government, computer hacking, unauthorised access to computer data and storage devices, computer crashes, breach of security and encryption codes, and other reasons beyond reasonable control (each a "Force Majeure Event"), then to that extent such party shall be excused from performance under these terms for as long as the Force Majeure Event continues.
- In addition to all other grounds for rejection specified in these terms, your application or bid could be rejected if it is not submitted before the cut-off time stated in section 6 below, or if you have not accepted the UPI-based ASBA blocking request within the specific timeline and Exchange operating hours.
- You agree to indemnify and hold harmless Diamond Hands LLP and its affiliates, partners, and key managerial personnel against any and all losses (whether actual or notional), costs, and expenses caused due to instructions provided by you, including any claims, demands, actions, or proceedings initiated against them.
IPO application process
- IPO applications can be submitted via UPI or ASBA through net banking services offered by banks. There are no platform or processing charges for applying for an IPO through 021 Trade. The application amount payable for an IPO will be determined by applicable regulations, including the SEBI (Issue of Capital and Disclosure Requirements) Regulations, Reserve Bank of India (RBI) guidelines, and limits prescribed by the Company for each investor category.
Eligible investor categories include resident individuals, HUFs, NRIs, and other entities such as companies, LLPs, trusts, and societies, subject to applicable regulatory conditions. Certain categories may be restricted to ASBA-only applications. The modes of bidding for IPO applications for various investor categories are as set out below:
| Investor type | Eligible mode of bidding |
|---|---|
| Resident individual, NRI, or HUF | UPI & ASBA |
| Minor individual* | UPI & ASBA |
| Company, Partnership, LLP, AOP, or Trust | ASBA only |
*Minors applying for IPOs must provide their own demat account information. Applications using a bank account not registered in the minor's name may be rejected by the RTA.
- An individual investor may submit IPO applications across all eligible categories, such as shareholder, employee, retail, and any other applicable category, using a single demat account, unless restricted by the Company's prospectus or applicable regulations.
- IPO orders can be placed from 10:00 AM on the opening day until 3:00 PM on the closing day. Pending IPO applications may only be cancelled and cannot be modified on the closing day. Applications submitted outside market hours will be processed on the next business day.
- The IPO pre-application facility ("Pre-Apply") allows users to create application requests for IPOs one day before launch. Diamond Hands LLP does not guarantee availability or performance during Pre-Apply, and submission does not constitute a legally binding application until the window opens.
- The UPI mandate can be accepted until 5:00 PM on the closing day of the IPO. We, as brokers, are not responsible for delays or errors in the processing or payment stages managed by NPCI, payment systems, and banks.
Order collection platform
- With respect to IPO applications, Diamond Hands LLP/021 Trade - Carbon only acts as an order collection platform, which collects orders at the instructions of the client and passes them onto the Exchanges on an "as is" basis. All applications shall be routed through the Exchanges (NSE and BSE).
- You agree to maintain sufficient balance in your bank account during the bid or application process through your UPI application to successfully bid for the quantity of units or lots placed through the platform. In case you do not have sufficient funds in your bank account, your bid or order will be rejected.
NPCI and Exchanges-set UPI process
- The client must provide a valid UPI ID linked to their bank account for UPI-based applications. The client is solely responsible for approving the UPI mandate within the prescribed timeline. Failure to approve the mandate shall result in rejection of the application.
- On successful bidding, you will receive a block-funds UPI request. You must accept this request via any UPI application (registered with NPCI) on your phone. Allotment of any application or bid with respect to any IPO will not be successful if this acceptance is not completed on time through your UPI application.
- Subject to the fund maintenance requirements in section 3.2, the UPI ID used for IPO applications must be directly linked to the applicant's bank account. In cases of joint accounts, the applicant must be a registered account holder and section 1.6 shall apply. Applications with UPI IDs not meeting these criteria may be rejected by Diamond Hands LLP or the relevant Exchange.
No warranty and no responsibility
- To the fullest extent permissible pursuant to applicable law, Diamond Hands LLP and the 021 Trade platform, along with their officers, partners, employees, and affiliates, disclaim all warranties or guarantees, whether statutory, express, or implied.
- Diamond Hands LLP makes no warranty that the IPO application window or platform will be uninterrupted, timely, secure, or error free. Downtime or interruptions may be caused due to connectivity issues with the Exchanges, merchant bankers, payment service providers, or other dependencies, and Diamond Hands LLP shall not be liable for any direct or indirect losses caused due to such interruptions.
- Diamond Hands LLP may choose to close or suspend the IPO bidding or application window at any time, at its own discretion, without providing prior notification to you.
Cut-off timings
Diamond Hands LLP may prescribe internal cut-off times for accepting IPO applications, which may be earlier than exchange deadlines to facilitate operational processing. The cut-off time will clearly be mentioned on Diamond Hands LLP - Carbon platform, and can be different for each IPO. This shall be implemented to complete all operational activities with respect to collecting and processing your application bids.
Allotment and listing
Allotment of shares is determined solely by the issuer and the registrar to the issue. There is no guarantee of allotment, and the broker has no role in the allotment process. The listing price of securities may differ from the issue price and is subject to market conditions.
Risk disclosure
Investment in IPO is subject to market risks. Clients are advised to read the Prospectus carefully before applying. Diamond Hands LLP does not provide any assurance of returns or listing gains and does not offer investment advice through the IPO platform.
Governing law and forum for disputes
Any claim or dispute you may have against the platform must be resolved by the process set by Securities Exchange Board of India (SEBI) and the Exchanges (NSE & BSE), as per their Exchange redressal mechanisms and/or the SMART ODR (Online Dispute Resolution) portal. Your usage of this platform and/or any website/mobile application of Diamond Hands LLP shall be governed by Indian law.