If you are a retail investor interested in investing in Initial Public Offerings, then knowing how to check the IPO allotment status is just as crucial as analysing the company. Once you submit your bid for a public issue, a lot goes on behind the scenes.
It is important for you to stay informed about the timelines and procedures that follow the post-IPO application period. This guide will help you navigate these next steps effectively by giving you crucial insights into how to check IPO allotment status online.
How to Check IPO Allotment Status?
In simple terms, IPO allotment is the process of distributing a company’s shares to the investors who applied for them. Contrary to popular opinion, not all investors who apply to a public issue receive the equity shares of the company. This is because the number of shares issued by a company in an IPO is limited.
Therefore, it becomes crucial to know how to check the IPO allotment status because it tells you whether you received any shares. Being aware of the status helps you manage your funds and plan your portfolio strategy properly.
Now, it is important to note that the finalisation of IPO allotment usually happens within 24 to 48 hours after the IPO closes for subscription. Historically, the process took about a week, but recent regulations have shortened the timeline significantly.
What is the IPO Allotment Status?
The IPO allotment status is the official confirmation that tells you whether your bid was successful, partially successful or unsuccessful. It indicates whether you become a shareholder in the newly listed entity or not.
Who Decides the Allotment
Every company issuing its equity shares to the public via an IPO appoints a Registrar and Transfer Agent (RTA). The appointed registrar is responsible for processing investor applications and determining the IPO allotment. The RTA ensures that the entire allotment process, from the beginning to the end, is fully transparent and adheres to the rules framed by the Securities and Exchange Board of India (SEBI).
When is the IPO Allotment Status Announced?
The timeline for the IPO allotment status announcement follows the strict schedule set by the Securities and Exchange Board of India (SEBI).
According to a SEBI circular dated August 09, 2023, all companies issuing IPOs on or after December 01, 2023, must ensure that they list their shares on stock exchanges within T+3 days of the issue closing date.
Under the new regulations, the registrar begins the reconciliation and allotment process as soon as the subscription window closes. Here is an example that can help you understand the IPO allotment timeline.
Assume a company’s IPO closes for subscription at 5 PM on Tuesday, December 9, 2025. The RTA must complete the allotment by 9 PM of the following day, i.e., Wednesday, December 10, 2025.
Explanation of Allotment Date, Refund Date and Listing Date
As a retail investor, there are three critical dates that you must be aware of when applying for an IPO - the allotment date, refund date and listing date.
The allotment date is when the registrar finalises the list of successful allottees. As you have already seen, the allotment must be completed by 9 PM on the day after the issue closing day (T+1 day).
The refund date is the date on which the blocked funds are released for unsuccessful IPO applicants. According to the new rules, the refunds for unsuccessful applicants must be completed by 4 PM on the T+2 day. Going by the example we discussed above, the refunds must be completed by 4 PM on Thursday, December 11, 2025.
Finally, the listing date is when the shares start trading on the stock exchanges. The trading of the newly issued equity shares must commence on the T+3 day.
Information Required to Check IPO Allotment Status
To proceed with checking your IPO allotment status online, you must have specific details handy. Here is a quick overview of some of the key information you need.
- PAN Number: The Permanent Account Number (PAN) is the most common and easiest identifier to use.
- Application Number: The application number is a unique number that is generated when you submit your IPO bid.
- DP ID and Client ID: The DP ID and client ID are unique identifiers associated with your demat account.
Note: Depending on the source that you use to perform an IPO allotment status check, you may be asked to submit either one or a combination of the above-mentioned information.
How to Check IPO Allotment Status Online: A Step-by-Step Guide
Fortunately, checking the IPO allotment status is very easy and convenient. There are three primary methods you can use. In this section of the guide, we will explore each method below in detail.
Method 1: Using PAN Number
- Visit the official website of the Registrar and Transfer Agent of the IPO. Alternatively, you can also visit the website of the stock exchanges like NSE and BSE for the IPO allotment status check.
- Select the specific IPO name from the dropdown menu.
- Choose the option that allows you to search by PAN.
- Enter your ten-digit alphanumeric PAN.
- Complete the captcha verification or security check.
- Click on the 'Search' or 'Submit' button.
The resulting message will display the IPO allotment status.
Method 2: Using Application Number
Alternatively, you can also use the IPO application number, which is unique to your specific bid, to check the allotment status. All you need to do is select the option that allows you to search by application number.
Method 3: Using Demat Account Details
You can also check the IPO allotment status on the RTA’s website using your Depository Participant (DP) ID and Client ID.
The DP ID identifies the depository participant, such as NSDL or CDSL. The Client ID is your unique account number with your stockbroker. For CDSL, it is a 16-digit numeric string. For NSDL, it starts with 'IN' followed by 14 digits.
How to Check IPO Allotment Status via Broker Platform
Many modern stockbrokers have integrated the IPO allotment status check feature directly into their apps. The primary advantage of this method is convenience, as the system fetches your details automatically. It is a seamless way to verify the IPO allotment status online without leaving your trading ecosystem.
Here is a generic overview of the steps you need to follow.
- Step 1: Log in to your broker's mobile app or website.
- Step 2: Navigate to the 'Order Book' or 'IPO Orders' tab.
- Step 3: Select the specific IPO you applied for.
- Step 4: Look for a status tag that says 'Allotted' or 'Not Allotted'.
Common Allotment Status Messages and Their Meaning
When you check the IPO allotment status online, you might encounter the following terms. Here is what they mean.
- Shares Allotted: This means your application was successful, and that you have secured the mentioned number of shares.
- No Allotment: This indicates that while your application was valid, you were not selected in the lottery draw due to oversubscription.
- Application Rejected: Your bid was disqualified due to technical errors or data mismatches.
- Pending / Under Process: The IPO allotment status is yet to be published. You should check again later once the process is complete.
What to Do After Checking IPO Allotment Status
If you find that you have been allotted shares, you should wait for them to be credited to your demat account. This typically happens on or before 6 PM on the T+2 day from the issue closing. Once the shares are visible in your holdings, you can choose to sell them on the listing day for listing gains or hold them for the long term.
On the other hand, if shares are not allotted, you must watch your bank account for the blocked amount to be released. If the funds remain blocked beyond the specified date, you should contact your bank or the RTA.
Common Reasons for Non-Allotment of Shares
Now that you know how to check the IPO allotment status, let us look at the various reasons for non-allotment of shares.
Oversubscription
When the demand for shares is high, the RTA uses a computerised lottery system to determine allotment. However, this may lead to valid applications simply not getting picked.
Invalid Application Details
If you enter the wrong demat account number or PAN, the system is likely to reject your bid outright.
Multiple Applications from the Same PAN
If you make multiple applications with a single PAN, all of them will be rejected.
Technical Errors
Sometimes UPI mandates fail, or bank details do not match. These technical glitches can lead to your application being disqualified during the scrutiny phase.
Tips to Improve IPO Allotment Chances
Although you cannot influence the IPO allotment process, you can avoid mistakes that lead to rejection.
Apply at the Cut-off Price
The cut-off price is the final price at which shares are allotted to investors. When applying for an IPO, it is advisable to always select the cut-off price option. This ensures your bid remains valid and increases the chances of allotment.
Avoid Multiple Applications
Submitting more than one application per PAN is not advisable. Multiple applications submitted using different demat accounts linked to the same PAN will lead to all of them being rejected.
Ensure Correct PAN and Demat Details
Before submitting the application, always double-check your PAN and demat account details. Even a small mismatch between your bank and demat profile details can lead to a rejection of your bid.
Understand the Retail Quota
Every IPO in India will have a retail investor quota. Before you apply, always make sure to be aware of the available retail investor portion and the subsequent subscription levels, as it can help you gauge your probability of success.
Frequently Asked Questions
Can I check IPO allotment status before the allotment date?
No. The status is only made available after the registrar finalises the basis of allotment, which must happen by 9 PM on the T+1 day, with T being the subscription closing day.
How long does the refund take if shares are not allotted?
If shares are not allotted, the refund or unblocking of funds must be completed by 4 PM on the T+2 day, with T being the subscription closing day.
Can I check IPO allotment without PAN?
Yes. Stock exchanges and Registrar and Transfer Agents (RTAs) let you perform an IPO allotment status check using just your application number or your DP ID and Client ID.
What happens if my application is rejected?
If your application is rejected for any reason, the blocked funds will be released back to your bank account, and you will not receive any shares.
Can I sell IPO shares on the listing day?
Yes. You can sell the shares immediately once the stock is listed on the exchange and trading commences.
Conclusion
With this, you must now know how to check the IPO allotment status using various methods. Keep in mind that navigating the IPO landscape requires patience and attention to detail, from understanding the role of the registrar to decoding the various status messages.
That said, you should remember that not getting an allotment is a normal part of investing in Initial Public Offerings. To avoid rejections, ensure your application is free from errors. By tracking the markets and applying smartly, you can position yourself to take advantage of the wealth creation potential that Indian equities offer.
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