Question on IPO bidding ?

#1
Recently I started using ICICI direct to apply for IPO there is a bid price on the IPO , for example for jet airways range is 800 - 1125 (apprx), How does this really work ?

Below are my questions:

If I bid for 900 and the share are allocated at 950 price what would happen ?

If I bid for 1125 (max) and the shares are allocated at 950 ? would they give me the difference ?

Also it allows up to 3 bids , does it mean only one will be executed if it matches the criteria ?
 
#2
Answer for Q2: If you bid for 1125 and cut off price decided at 950, you will get back the difference.
Answer for Q3: maximum 1 bid will be executed, in order of preference it will try to match your first, then second, and then third bid, or totally not executed.

I am not very sure for Question 1, but I think if you hit the bid, then you will get at 900 even if cut off decided at 950.
 

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