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Share Slip Return & Refund: Sunrise Bank

Published by Octron on July 14, 2009

Sunrise Bank has announced it is refunding the unallocated amount (A/c payee check) along with the slip distribution for those who got lucky in latest Sunrise IPO fiesta. The refund started from 14th July 2009. Definitely, IPO result came as shock for most of the applicants and turned into some fiasco, when it came to knowledge how NON RANDOM was the allotment system.

Click here for the OFFICIAL NOTICE.

As most of our readers have got used to standing in the queue to apply & get refund for IPOs, but still for the new comers into the market here are some basic guidelines;

You need to got to SAME COLLECTION center where you deposited your application. NOT directly to SUNRISE BANK (if you deposited in some other centers – like NMB, finance company).
You must take along the slip (bottom part of the application form), which was signed & returned to you by the collection center, when you deposited the application form. YES its mandatory, if you have lost it, then you need to report to NMB (the issue manager) with a request letter, photograph, along with xerox of the applicant’s citizenship, if possible with application number.
Applicant must take along his/her original citizenship certificate and its xerox. If an applicant is unable to go to take the refund cheque, then applicant must sign the backside of the return slip, which contains authority transfer statement to the desired person (who will be collecting the cheque). The collectors must take along with him his own Citizenship certificate Original & Xerox.
Once you collect the cheque. PLEASE CHECK PROPERLY, the PAYEE NAME, BANK ACCOUNT NUMBER, BANK NAME & BRANCH.
Does the BANK details confirms with the one you filled up in the application form or not ?
There have been many cases, where cheque was later discovered to have contained one or more above errors. So please confirm it in front of the counter and report back to them immediately. In case of minor error, the responsible and authorized person in the refund department corrects it on the same cheque and properly signs for its authenticity. For major errors, you will have to wait few more days. But DONT FORGET to REPORT IMMEDIATELY.
Once you are confirmed, everything is correct then you need to take to the printed bank and deposit it. It takes from 2 – 7 days for your amount to get deposited into your account after you deposit the cheque.
Regarding, left check slip, which you tear out of the check when you deposit it. Please keep it in the safe place until your amount is deposited. Specially, for those applicantions which got alloted. You will need to show this remaining part of the check slip when you collect for your share certificates.