IPO allotment calculator
When an investor category is oversubscribed, SEBI's rules decide how its shares are shared out. Pick an IPO to use its official subscription figures, or enter your own, to see how many applications receive shares.
Result
Applications that receive shares
About 1 in 31
45,132 minimum applications can be filled · subscribed 30.74 times
Under SEBI's rules each application picked in the draw gets one minimum application's worth of shares, whatever size it was made for.
Without the application count, every application is taken as the minimum size. Applications larger than the minimum mean fewer applications in total, so the real figure is the same or more favourable.
All categories for this IPO
| Category | Times subscribed | Minimum application | Applications that receive shares |
|---|---|---|---|
| Retail | 30.74× | 182 shares | About 1 in 31 |
| Small NII (₹2–10 lakh) | 106× | 2,548 shares | About 1 in 106 |
| Big NII (above ₹10 lakh) | 183.52× | 12,376 shares | About 1 in 184 |
How SEBI's allotment rules work
- Retail individual investors apply for up to ₹2 L. If the retail portion can't give every application one lot, applications are picked by a computerised draw and each one picked gets one minimum lot, whatever its size. If there are enough shares for everyone's minimum, the rest is shared out proportionately.
- Non-institutional investors (NII) apply for more than ₹2 L. One third of the NII portion is for applications up to ₹10 L (small NII) and two thirds for larger ones (big NII). Each application picked gets the minimum NII application size; shares left over are allotted proportionately.
- Qualified institutional buyers are allotted proportionately and anchor investors at the company's discretion, so the calculator leaves them out.
- SME issues state their own minimum application in the offer document; the calculator uses the IPO's recorded minimum, or you can enter it.
How the figure is worked out
- Minimum applications the category can fill = shares reserved ÷ shares in one minimum application.
- Applications = the published count if known; otherwise shares bid ÷ shares in one minimum application, the most there could be.
- Applications that receive shares = minimum applications that can be filled ÷ applications, shown as “1 in N”.
Worked example: Bombay Coated and Special Steels Limited
The retail portion of Bombay Coated and Special Steels Limited had 82,14,097 shares and was subscribed 30.74 times. One minimum retail application was 182 shares, so the portion could fill 45,132 minimum applications. Taking every application as the minimum size, about 1 in 31 applications would receive shares.
Subscription figures from the exchange; minimum application from the Red Herring Prospectus or SEBI's retail limit.
Related pages
For what allotted shares come to after charges and tax, use the IPO return calculator. Dates of the next issues are on upcoming IPOs, and the steps from application to allotment are in the IPO guides.
Frequently asked questions
How are IPO shares allotted to retail investors when the issue is oversubscribed?
If the retail portion can't give every valid application one minimum lot, the registrar runs a computerised draw. Each application picked gets one minimum lot. If there are enough shares for every application's minimum, everyone gets it and the remaining shares are shared out proportionately.
Does a larger retail application get more shares when the category is heavily oversubscribed?
No. Once the portion can't cover one lot per application, each application picked in the draw gets one minimum lot, whatever amount it was made for. The rest of the amount is unblocked.
Can one person make several applications in the same IPO?
Applications are checked by PAN. More than one application from the same PAN in a category is treated as a multiple application and can be rejected.
What is the difference between small NII and big NII?
Non-institutional applications from ₹2 L up to ₹10 L share one third of the NII portion; larger ones share the other two thirds. Each application picked gets the minimum NII application size.
Why is the result an approximation?
Exchange figures include bids that are later found invalid, and the application count is often published only with the basis of allotment. Without it, every application is taken as the minimum size, which gives the most applications possible.
Where is the final allotment published?
The registrar publishes the basis of allotment, and allotment status can be checked on the registrar's and exchanges' websites. Each IPO page links to them.