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Investing in an Initial Public Offering (IPO) is an exciting experience for investors to be a part of the growth story of the company. But once you apply for an IPO, waiting to see if you are granted shares is a nail-biting experience.
Rajeev Bansal, a 29-year-old software professional from Chandigarh, applied for the IPO of Hexaware Technologies Limited in February 2025. The issue price was ₹708 per unit, and the lot size was 90 units. Rajeev applied for 1 lot, and the investment made was ₹63,720. The IPO was oversubscribed because there was high demand.
On the allotment date, Rajeev looked at his status from the registrar's website and found that he had not been allotted any shares. Despite the disappointment, Rajeev was satisfied with the openness of the process. His application amount of ₹63,720 was refunded to his bank account through which the application had been made within 3 working days.
IPO allotment refers to the process of allocating shares to investors who have applied for them during an IPO. The allotment is carried out by the registrar of the IPO, such as Link Intime or KFin Technologies, based on the number of applications received and the total shares available.
Registrars like Link Intime and KFin Technologies provide online portals to check IPO allotment status.
Read More: How to Apply for IPO in Zerodha
Alok Rathi, an investor from Mumbai, applied for the Laxmi Dental Limited IPO in March 2025. He applied for 1 lot, which equalled 90 shares. Using his PAN number on Link Intime’s official site, Alok successfully confirmed his allotment status and found that he was allotted the shares he had applied for.
Both BSE and NSE provide platforms to check IPO allotment status.
Priya Kaul, a 34-year-old teacher from Indore, applied for the Capital Infra Trust IPO with an application amount of ₹15,000 for 1 lot. She checked her IPO allotment status using the BSE website and discovered that she had not been allotted any shares due to oversubscription.
Many brokerage firms provide IPO applications and allotment status tracking through their platforms.
Aarti Mehta, a 41-year-old homemaker from Surat, applied for the Stallion India Fluorochemicals Limited IPO using the Groww app.
She invested ₹58,950 for 1 lot at ₹655 per share. On the day of allotment, she logged into her Groww account and saw that the status had been updated to "Allotted."
Understanding the timeline helps in setting expectations post-application.
Event | Timeline (Days) | Example Date (2025) |
IPO Closes | Day 0 | Jan 20 |
Allotment Finalisation |
Rohit Sen, a chartered accountant based in Kolkata, applied for 1 lot of Ajax Engineering Limited IPO in January 2025 at ₹720 per share. After learning that he hadn’t received any shares, he waited and saw that the refund of ₹64,800 was credited back to his account by January 23.
In oversubscribed IPOS, the basis of the allotment document provides insights into the allotment process.
No. of Lots Applied | No. of Applicants | No. of Lots Allotted | Probability of Allotment |
1 | 10,00,000 |
1,50,000
15%
2
3,00,000
45,000
15%
5
Day 2-3
Jan 22 |
Status Announcement | Day 3 | Jan 22 |
Refund Processing | Day 4 | Jan 23 |
Listing on the Stock Exchange | Day 6 | Jan 25 |
*T&C Apply
1,00,000
15,000 |
15% |
Vinita Kapoor, a 35-year-old dentist from Delhi, applied for 5 lots (a total of 450 shares) in the Ather Energy Limited IPO. With each
share priced at ₹800, her total application was worth ₹3,60,000. Despite the higher-value application, she was not allotted any shares as the IPO was heavily oversubscribed.
If shares are not allotted, the application amount is refunded or unblocked.
Payment Mode | Refund Mode | Expected Refund Time |
UPI | Auto-release | 2–4 working days |
Net Banking | NEFT/IMPS | 2–3 working days |
ASBA | Unblocking | Same day or 1 day |
Tarun Verma, a marketing executive from Pune, applied for Quality Power Electrical Equipments Limited IPO through the UPI method with ₹52,470 for 1 lot. When he wasn’t allotted shares, the blocked amount was automatically released to his bank account within 3 working days.
Komal Jain, a 31-year-old business owner from Jaipur, tried checking her allotment status for the Shakti Pumps IPO before the finalisation date.
As expected, the registrar’s website did not show her status. She waited until the official allotment date and successfully checked the status afterwards, which confirmed that she had received no shares. This highlights the importance of being aware of the official timelines.
Checking your IPO allotment status is a straightforward process, thanks to the digital platforms provided by registrars, stock exchanges, and brokerage firms. By following the steps outlined above and ensuring accurate information during the application process, you can stay informed about your investment journey.
Remember, investing in IPOs carries risks, and allotment is not guaranteed. Always conduct thorough research before applying and consult with financial advisors if needed.
Q1: When is the IPO allotment status declared?
Typically, the status is available within 2–3 working days after the IPO closes.
Q2: How will I know if I've been allotted shares?
You can check the status on the registrar's website, stock exchange websites, or your brokerage platform. Additionally, you may receive an email or SMS notification.
Q3: What happens if I don't get an allotment?
Your application amount will be refunded or unblocked in your bank account.
Q4: Can I increase my chances of allotment?
Applying through multiple demat accounts (within SEBI guidelines) and submitting applications early can slightly improve chances, but allotment is primarily based on a lottery system in case of oversubscription.
