Learn how allotment is decided, how to check your status, and how to improve your chances.
🔷 What is IPO Allotment?
When you apply for an IPO, you are not guaranteed to receive shares. If the IPO receives more applications than shares available (oversubscribed), SEBI uses a fair process — typically a lottery — to decide who gets shares. This process is called Allotment.
The registrar (KFin Technologies, Link Intime, Bigshare Services etc.) manages this process on behalf of the company. You find out on Allotment Day (T+6) — 6 working days after the IPO closes.
⚙️ How Allotment Works by Investor Category
👨💼 Retail (RII) — Lottery
If the retail portion is oversubscribed, a computerised lottery picks winners. Every valid application gets one chance in the draw, regardless of how many lots you applied for. You either get 1 lot or 0.
💰 HNI / NII — Proportionate
Large applications are allotted proportionately. If HNI portion is 10x oversubscribed, you get 1/10th of what you applied for. Minimum allotment = 1 lot. Larger application = better chances.
🏢 QIB — Proportionate
Institutional buyers (mutual funds, banks, FIIs) get allotment proportionate to their bid size. QIB portion is often 50% of the total issue. Their demand signals quality to retail investors.
💡 Key Insight: As a retail investor, applying for MORE lots doesn't improve your chances. You still get just 1 entry in the lottery. What matters is submitting a valid application — correct PAN, approved UPI mandate, and sufficient balance in your account.
📅 Complete IPO Timeline (T+6 System)
T
IPO Opens
Subscription window opens. Apply through your broker app or bank netbanking. UPI mandate gets a notification to approve.
T+1 to T+2
Subscription Period
Most IPOs stay open for 3 days. You can modify or withdraw during this period. Live subscription data available on IPO Route.
T+3
IPO Closes
Last day to apply. Final subscription data published (QIB x, NII x, Retail x). No changes after closure.
T+4 to T+5
Processing & Basis of Allotment
Registrar processes applications, removes invalid ones (technical rejections), finalises allotment basis, submits to exchange for approval.
T+6
🎯 Allotment Day
Results published! Check on registrar website. If not allotted, your UPI mandate is released / ASBA unblocked. Money returns to bank.
T+7
Shares Credited to Demat
If allotted, shares arrive in your Demat account on T+7. You'll see them in your broker's portfolio section.
T+8
🚀 Listing Day
Shares start trading! Pre-open session from 9:00–9:45 AM. Regular trading from 10:00 AM. Most listing-gain investors sell in the first hour.
✅ How to Check Allotment Status
🔍 Quick Allotment Status Check
Select the registrar for your IPO and click to go to their official status checker. Enter your PAN Number or Application Number there.
Open Registrar Website →
You will need to enter your PAN number or Application number and date of birth on the registrar's website to check your allotment status.
🏢 Registrar Quick Links — All IPOs
🏦
KFin Technologies
Used by: CSM Technologies and many large Mainboard IPOs
Each family member (spouse, parents, adult children) can apply separately from their own Demat + bank account. Each application = one lottery ticket.
02
Apply Early — Don't Wait for Day 3
Apply on Day 1 or Day 2. Day 3 servers are often overloaded. Early applications have a slight edge in processing. Also prevents last-minute UPI failures.
03
Always Approve the UPI Mandate Quickly
After applying through UPI, you get a notification to approve the mandate. Approve it within 30 minutes. Expired mandates = invalid application = zero chances.
04
Apply at Cut-Off Price
Always select "Cut-off Price" when bidding. This ensures your application is valid at whatever price is finally decided within the band. Bidding below the final price = rejection.
05
Maintain Sufficient Balance
Make sure your bank account has enough balance for the entire application amount. If funds are insufficient when the mandate is verified, your application gets rejected.
06
Use a Correct, Active PAN
Wrong PAN, unlinked PAN, or PAN not linked to Aadhaar can cause rejection. Verify your PAN details match exactly with your Demat account before applying.
⚠️ Common Mistakes That Get Applications Rejected: Wrong PAN number · UPI mandate not approved · Insufficient balance · Bidding below final price · Applying from same PAN in two accounts (only one is valid) · Technical errors not corrected before IPO closes
❓ Frequently Asked Questions
I applied for 5 lots. Does that improve my allotment chances?
No — for retail investors (up to ₹2 lakh), applying for 1 lot or 5 lots gives you the same 1 entry in the lottery. Allotment is always exactly 1 lot or nothing for retail. Save your extra capital to apply in another family member's name instead.
How do I know which registrar my IPO uses?
Check our homepage's Allotment section — we list the registrar for each current IPO. You can also check the IPO's Red Herring Prospectus (RHP) or the company's IPO page on BSE/NSE website.
My allotment status shows "Not Allotted". When do I get my money back?
For UPI applications, the UPI mandate is released automatically on allotment day (T+6). For ASBA, your bank releases the blocked funds within 1–2 business days. You don't need to do anything — it's automatic.
I got allotment but don't see shares in my Demat. What to do?
Shares are credited on T+7 (the day before listing). If you still don't see them on T+7 evening, check: (1) You're looking at the correct Demat account, (2) Wait until market closing time on T+7. If still missing, contact your broker's customer support.
✅ Check Allotment for Current IPOs
See allotment details and registrar links for all recent IPOs on our homepage.
Disclaimer: IPO Route is an informational website only. Registrar links are provided for convenience — we are not affiliated with any registrar. IPO allotment is decided by SEBI-approved processes. We are not SEBI-registered investment advisors.