Applying for an Initial Public Offering (IPO) is an exciting process, but the real anticipation begins once the public bidding window closes. After submitting your bid through UPI ASBA, the question every investor asks is: "Did I get the IPO allotment?"
Under India's streamlined T+3 listing norms, the IPO allotment is finalized by the appointed registrar within 1 to 2 working days after the bidding closes. In this comprehensive guide, we show you all four official methods to verify your IPO allotment status online, explain how the allotment lottery functions, and clarify what to do if your funds remain blocked.
1. How the IPO Allotment Process Works in India
When an IPO receives more bids than the shares available for sale, it is deemed oversubscribed. To ensure fairness, SEBI regulations mandate a structured allocation process:
The Retail Allotment Lottery: If the Retail Individual Investor (RII) quota is oversubscribed by 10x, a computerized, randomized lottery selects the successful applicants. Each winning applicant receives exactly one minimum lot of shares. Bidding for more lots under the retail category does not increase your lottery probability.
High Net-Worth Individuals (NII / HNI): For HNI applications exceeding ₹2 Lakhs, allotment is conducted on a proportionate lottery basis subject to minimum application size rules.
2. Method 1: Check Allotment on the BSE India Website (Easiest Method)
The Bombay Stock Exchange (BSE) provides a dedicated, direct portal to check allotment status across all Mainboard and SME public issues:
- Visit the official BSE Allotment Status Page: bseindia.com/investors/appli_check.aspx.
- Under Issue Type, select "Equity".
- In the Issue Name drop-down menu, select the company you applied for (e.g. Hyundai Motor India Ltd).
- Enter either your Application Number or your PAN Card Number.
- Complete the "I am not a robot" reCAPTCHA verification and click Search.
- The screen will display your application details, bid quantity, and Number of Shares Allotted (e.g., 30 shares or 0 shares).
3. Method 2: Check Allotment on the Registrar's Website
The official registrar appointed by the company is the master record-keeper. The two largest registrars in India are Link Intime India and KFin Technologies.
A. On Link Intime India:
- Visit: linkintime.co.in/initial_offer/public-issues.html.
- Select the company name from the active list.
- Select your search identifier: PAN, Application Number, or DP/Client ID.
- Enter your details and click Submit.
B. On KFin Technologies:
- Visit: kosmic.kfintech.com/ipostatus/.
- Select one of the active server links.
- Choose the IPO from the drop-down menu.
- Enter your PAN number or Application ID and submit.
Other Common Registrars: For smaller mainline or SME IPOs, also check Bigshare Services (bigshareonline.com), Skyline Financial Services, or Cameo Corporate Services depending on which registrar is cited in the RHP.
4. Method 3: Check Bank SMS & Demat Credit
Even before official websites update their databases, your bank and depository send instant electronic notifications:
| Notification Source | If Shares Are Allotted | If No Shares Are Allotted |
|---|---|---|
| Bank SMS (UPI ASBA) | "Your account has been DEBITED with ₹XX,XXX towards IPO allotment mandate." | "Your UPI mandate of ₹XX,XXX has been REVOKED/UNBLOCKED." |
| Depository SMS (CDSL / NSDL) | "XX shares of [Company Name] have been CREDITED to your Demat account." | No SMS received from depository. |
5. What to Do If Your IPO Funds Are Not Unblocked
If you did not receive an allotment but your blocked funds have not been released by the bank after 2 working days, follow these steps:
- Check UPI Mandate Status: Open your UPI app (Google Pay, PhonePe, Paytm) and navigate to Autopay / Mandates. Check if the mandate shows "Expired" or "Revoked".
- Contact Your Bank Branch: Provide your UPI Mandate UMN (Unique Mandate Number) and request an instant manual lien removal.
- Email the Registrar: Send an email to the registrar’s investor grievance address (found in the DRHP) quoting your PAN, Application Number, and Bank IFSC.
6. Frequently Asked Questions (FAQ)
Q1: At what time is IPO allotment usually released?
While registrars begin processing on the allotment date, the official database lookup is typically published online between 8:00 PM and 11:30 PM on the scheduled allotment date.
Q2: Can I sell allotted IPO shares on the listing day?
Yes. As soon as the market opens at 10:00 AM on listing day, your allotted shares will appear in your Upstox holdings portfolio and can be sold immediately.
Q3: Why was my IPO application rejected before the lottery?
Common reasons for rejection include: mismatched PAN between the Demat account and bank account, failure to approve the UPI mandate before 5:00 PM on closing day, or bidding below the cut-off price.
Educational & Regulatory Disclaimer
Digital Arthalaya is an authorized Referral Agent of Upstox (RKSV Securities India Pvt. Ltd.), a SEBI-registered stockbroker. This article is written for educational and investor-support purposes. We do not provide allotment guarantees, share tips, or investment recommendations. Securities investments are subject to market risks; please read all offer documents carefully before investing.
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