How to check IPO allotment status

Allotment is decided by the registrar a day after bidding closes. Here is when it happens, where to check, and what the result means.

The timeline (T+3 listing)

Since December 2023 Indian IPOs list three working days after the issue closes. Counting the close day as T:

• T+1: basis of allotment is finalised by the registrar.
• T+1 to T+2: refunds (the blocked amount is released) and shares are credited to demat accounts.
• T+3: the share lists. A pre-open session sets the opening price, and normal trading starts at 10 am.

Weekends and exchange holidays are skipped, so a Friday close usually means a Wednesday listing. We show each IPO's allotment and listing dates on its page as soon as they are announced.

Where to check

Three places carry the same answer. Keep your PAN, application number or demat (DP/client) ID handy.

• The registrar's website. Every issue names its registrar in the offer document. The common ones are KFin Technologies, MUFG Intime (formerly Link Intime), Bigshare Services, Cameo Corporate Services, Maashitla Securities, Skyline Financial Services and Purva Sharegistry. Each has an "IPO allotment status" page where you pick the company and enter PAN.
• NSE or BSE. Both exchanges have a public issue status page. BSE's "Application status check" and NSE's "Verify IPO application" work for issues on their platform once the basis is finalised.
• Your bank or broker app. The ASBA block being released means you were not allotted; a debit means you were. Brokers such as Zerodha, Groww and Upstox show the status in their IPO section.

How allotment is decided

In the retail category, if the issue is oversubscribed, every applicant is first considered for one lot and the lots are drawn by a computerised lottery. Applying for more lots does not raise your chance in an oversubscribed retail book; applying from several different PANs in one family does. In the non-institutional (HNI) categories allotment is also by lot draw since 2022, not proportional. SME issues follow the same rules with larger lots.

Reading the result

• Allotted: shares appear in your demat by T+2. You can sell them from the pre-open session on listing day.
• Not allotted: the ASBA block is released. If it is still blocked after T+3, contact the bank first, then the registrar.
• Status not found: the registrar has not published yet, or the application was rejected (mismatched PAN, wrong bid price, duplicate application). Try again after 6 pm on T+1.

What GMP has to do with it

Nothing directly. Allotment is a lottery on the number of applications; GMP is what informal dealers quote for the shares before listing. A high GMP does draw more applications, which lowers everyone's odds of allotment. Our track record shows how far the final GMP has been from the actual listing price.