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In terms of the number of applications, the retail category saw 14,64,584 applications. This implies a subscription of 8.37 times the shares reserved for the retail category ― if at least one lot were allotted to each application. Clearly, this indicates that bidders stand a very low chance of allotment.

Hence, irrespective of the number of lots applied for, every retail bidder picked by the lucky draw will now be eligible for one lot only, that is, 40 shares in IRCTC's IPO. That is, only 1.75 lakh applications will be picked by the lottery system and each will be allotted 40 shares (one lot). Your chance of getting one lot of 40 shares is therefore, 12 per cent.

Correct Lakshmi. I'm planning to write a mail to SEBI to investigate allotments. I think there some bias/wrong doing in allotments