IPO allotment: process, odds and how to check
When an IPO is oversubscribed, retail shares are allotted by a computerised lottery. Here is the timeline, the maths of your odds, and where to check.
Updated 1 September 2026
The timeline
- T (close day): bidding ends, usually at 5 pm.
- T+1 (working day): the registrar reconciles bids with the banks and finalises allotment.
- T+1 evening: allotment status goes live on the registrar and BSE sites; refunds / ASBA unblocks begin.
- T+2: shares are credited to demat accounts.
- T+3: the stock lists and trading starts.
Each IPO page on Platform shows the exact expected dates from the prospectus.
How retail allotment is decided
The retail bucket is filled so that the maximum number of applicants each get at least one lot. If retail is oversubscribed, a SEBI-mandated computerised lottery run by the registrar decides who gets a lot. Key consequences:
- When retail is subscribed N times, roughly 1 in N valid single-lot applications gets an allotment.
- Applying for more than one lot does not improve your per-application odds in the retail category — the lottery is per application, and everyone who wins gets exactly one lot until shares run out.
- Applying from multiple different PANs (family members) is the legitimate way to increase the household's chances — one application per PAN.
Platform shows an indicative retail allotment probability on each IPO page, derived from the live retail subscription. It is an estimate — reserved-category rounding and the exact lottery determine the real result.
How to check your allotment status
You'll need your PAN, application / DPID-Client ID, or bank account number. Check on:
- The registrar's IPO-status page (each IPO has one registrar).
- BSE "application status" — works for almost every issue.
Platform's allotment page links you straight to the right registrar and BSE page for the selected IPO and remembers your choice. Registrars put a CAPTCHA on these pages; that one step happens on their site. Platform never asks for or handles your PAN.
Indian IPO registrars
| KFin Technologies | allotment status |
|---|---|
| MUFG Intime India (formerly Link Intime) | allotment status |
| Bigshare Services | allotment status |
| Cameo Corporate Services | allotment status |
| Purva Sharegistry | allotment status |
| Skyline Financial Services | allotment status |
| Maashitla Securities | allotment status |
Related reading
Platform is an independent aggregator, not affiliated with NSE, BSE, SEBI or any registrar. This article is general information, not investment advice. See the disclaimer.