In a book-building IPO, where the price range is set by the issuing company, an investor can place up to 3 bids.
The investor has the option to submit bids with three different price and quantity combinations - Bid1, Bid2 and Bid3. The chosen price should be within the price range and the quantity should be a multiple of the minimum lot size.
The application amount of the highest bid of the 3 bids will be blocked from the bank account.
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