How IPO allotment works?

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IPO allotment works based on the investor category and the level of oversubscription.

If an IPO is not fully subscribed, each investor gets full allotment. However, if the IPO is oversubscribed the allotment is made either on lottery basis or pro-rata basis.

Basis of Allotment

Investor Category	IPO Allotment Method
Retail Individual Investor (RII)	If RII applicants > Maximum RII Allottees - Computerized Lottery + Pro rata basis If RII applicants < Maximum RII Allottees - Minimum 1 lot to each RII and remaining on a pro-rata basis.
Non-Institutional Investors (NII)	If NII applicants > Maximum NII Allottees - Computerized Lottery + Pro rata basis If NII applicants < Maximum RII Allottees - Minimum bid lot to each NII and remaining on a pro-rata basis.
Qualified Institutional Buyers (QIB)	Proportionate basis
Anchor Investors	Discretionary basis
Employees	Proportionate basis
Shareholder	Proportionate basis

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