I apply for every IPO, but get allotment from some IPOs. Good IPOs don't get alloted to me. Where's the problem?

Now a day's IPOs have gained a lot of interest among retail investors. And therefore we see a lot of people applying for IPOs of good companies and issues getting oversubscribed. While applying for good IPOs is right but there is also a chance of not getting allotment due to oversubscription. It is because every IPO has a predetermined portion for different categories of investors like- Qualified Institutional Buyers(QIB), Non-institutional investors (NII), Retail individual investors (RII) and Employees etc. The portion for retail investors is 35% of the total shares on offer.

Suppose, ABC IPO has 2,00,000 shares on offer for retail investors. The minimum lot size is 20 and say 2000 retail investors apply for it. When an IPO is oversubscribed, allotment happens as per SEBI guidelines. The total number of shares on offer for retail investors is divided by lot size i.e. 2,00,000/20= 1000 lots. So only 1000 applicants out of 2000 will get an allotment. The applicants are then selected for allotment based on a lottery. Whether you applied for the IPO on first day or the number of lots applied doesn't matter.

So, there's no problem with your application, it's just that your luck is favoring on some IPOs and not in others. So, keep applying for good IPOs and hope for the best.