For an A regulated electronic marketplace in Mumbai where buyers and sellers trade shares and other securities at publicly visible prices. Read the full meaning of NSE (National Stock Exchange) mainboard A company's first offer of its shares to the public, after which the shares are listed on a stock exchange and can be bought or sold by any investor. Read the full meaning of IPO that closed bidding on 21 September 2026, the IPO subscription status looked different depending on the site investors opened.
The subscription status table on these sites gives the total multiple along with separate multiples for QIB, NII and retail. Individuals applying in a particular category are affected by the line for that category, and the total figure does not tell them how their own portion has been subscribed.
How the quotas are set
In a standard book built IPO, QIBs get up to 50%, NII gets at least 15% and retail investors get at least 35%.
Retail applications go up to Rs 2 lakh, and a bid above that amount moves into the NII category. Within NII, the small segment of Rs 2 lakh to Rs 10 lakh gets 5%, and the big segment above Rs 10 lakh gets 10%.
For a loss-making issuer using the QIB route, QIBs are given 75% of the net offer, while retail is capped at 10%.
A SEBI is the statutory regulator of India's securities market, with the legal duty to protect investors and to promote and regulate that market. Read the full meaning of SEBI proposal from July 2025 to cut retail to 25% and raise QIB to 60% for issues above Rs 5,000 crore was later replaced by a proposal to keep retail at 35%. The 25% retail proposal was not adopted, and the retail quota stays at 35% for now.
What oversubscription means for allotment
If a category is undersubscribed, the applicants in that category will receive all the shares they have applied for. In an oversubscribed issue, the allotment to NII and QIB applicants is made in proportion to the bid amount, as per IPO Ji.
For the retail portion, oversubscription leads to a lottery among the valid applications. SEBI's aim is that each retail applicant should get at least one lot where possible, as per Online NIFM.
Shares left unsubscribed in one category can be moved to another category under SEBI rules. Bids in the QIB and NII categories cannot be withdrawn after the close of bidding, as per the s45.ai blog.
