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When the IPO oversubscription happens, the applicant may or may not get the allotment of the shares or the number of lots applied. Depending on the category in which you have applied, the IPO allotment differs in oversubscription case:
In the QIB category, shares are allocated proportionally. So, if the issue is subscribed by 5 times, then an applicant who has applied for 10 lakh shares will receive 2 lakh shares only.
HNI also receives allotment on a proportionate basis.
Case 1: RII Applications are Less or Equal to Offered Lots
In this case, each applicant first gets at least minimum 1 lot. And, the rest available lots are allocated proportionally.
Case 2: RII Applications are Greater than Offered Lots
In this case, the allotment is done through a computerized draw to pick applicants for IPO allotment.
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