If applying for an IPOis like buying a lottery ticket, then the IPO Allotment is the day of the draw. Because high-quality IPOs in India are often oversubscribed (meaning 50 or 100 people want the same share), not everyone who applies can get them. Allotment is the official process where the company, along with its Registrar, decides exactly who gets the shares and how many.

Think of it like a popular college admission. Thousands apply, but the seats are limited. The registrar uses a fair, computerized system to pick the lucky winners. In 2026, thanks to the T+3 cycle, this entire suspense lasts only about 24 hours. If you are allotted shares, they move to your Demat account; if not, your blocked money is released back to you. Knowing how to check this status as soon as it's out is the most exciting part of the IPO journey!

Also read: What is IPO grading process?

What is IPO Allotment?

IPO Allotment is the final selection of successful bidders. It usually happens one working day after the IPO closes.

How is it decided?

For Retail Investors: If demand is more than supply, a Computerized Lottery is used. It is purely based on luck. SEBI rules ensure that as many people as possible get at least 1 Lot.
For NII/HNI Investors: Shares are usually given on a Proportionate Basis. If you apply for a large amount, you have a higher chance of getting some shares, even if not the full amount.

3 Ways to Check IPO Allotment Status (2026)

You don't have to wait for an SMS. You can check the status yourself using your PAN Number on these official platforms:

1. Via the Registrar's Website (Fastest)

The Registrar is the agency that actually does the allotment. Most Indian IPOs use one of these three:

Link Intime (Now known as MUFG Intime): Visit their Public Issues page.
KFintech: Visit their IPO Status portal.
Bigshare Services: Visit their Allotment page.

Steps: Select the IPO name → Choose PAN → Enter your PAN number → Click Search

2. Via the Stock Exchange (BSE/NSE)

BSE Website: Go to the Status of Issue Application page. Select 'Equity', choose the IPO, and enter your PAN.
NSE Website: You can log in to the NSE Invest portal to verify your bid and allotment details.

3. Via Your Broker App

Apps like Motilal Oswal RIISE, Angel One, or Zerodha have a dedicated 'IPO' section. Once the registrar finalizes the list, these apps update your status to Allotted, Not Allotted, or Partially Allotted.

What do the Status Messages Mean?

Status Message

What it means for you

Allotted

Congratulations! The shares will be credited to your Demat account.

Not Allotted

You didn't win the lottery this time. Your blocked money will be released.

Partially Allotted

(Common for HNIs) You got some shares, but fewer than you asked for.

Invalid / Rejected

Your application had an error (e.g., wrong UPI ID or duplicate PAN).

Frequently Asked Questions (FAQs)

When exactly is the allotment status updated?

Usually, it is updated late in the evening on the Basis of Allotment day (T+1). Sometimes it can take until midnight.

Why did my friend get allotment but I didn't?

If the IPO is oversubscribed, it is a random lottery. It has nothing to do with who applied first or who has a bigger bank balance in the retail category.

I didn't get shares, when will I get my refund?

In 2026, the Unblocking of funds usually happens on the T+2 day. Your bank will send an SMS saying the mandate has been revoked.

Can I get a partial allotment in the Retail category?

No. In the retail category, you either get 1 full lot or zero. Partial allotment (like getting 10 shares instead of 30) only happens in the NII/HNI category.

Does applying for 10 lots increase my lottery chances?

No. For retail investors, SEBI rules treat an application for 1 lot and 10 lots equally in the lottery. To increase chances, apply from different family members' accounts (with different PANs).

I got an SMS saying Money Debited. Does it mean I got allotment?

Yes! If money is debited from your account, it means the company has taken the cash in exchange for shares. You are now a shareholder.

Why is my status showing No Record Found?

This happens if the registrar hasn't uploaded the data yet, or if you entered your PAN number incorrectly. Try again after a few hours.

Can I check allotment status using my Application Number?

Yes. All registrar websites allow you to check using your PAN, Application Number, or DP ID. PAN is usually the easiest.

What is the Basis of Allotment document?

It is a PDF released by the registrar that shows the math how many people applied and what were the odds of winning the lottery (e.g., 1 out of 50).

Do I get an email about the allotment?

Yes, both the Registrar and the Stock Exchange (BSE/NSE) send an official email confirmation once the process is complete.

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