What is an IPO and how does it work in India?

An IPO (Initial Public Offering) is the process by which a private company offers its shares to the public for the first time and gets listed on a stock exchange such as NSE or BSE. The company sets a price band, investors apply during a 3-day bidding window through ASBA / UPI, shares are allotted (often by lottery when oversubscribed), and the stock begins trading on the listing date. Investors apply in lots — a fixed minimum number of shares — and the issue can be a fresh issue, an offer for sale (OFS), or both.

What is the difference between a Mainboard IPO and an SME IPO?

Mainboard IPOs are larger companies that list on the main NSE/BSE platforms with stricter eligibility (minimum post-issue capital, profitability, and disclosure norms) and a minimum retail application of around ₹14,000–15,000. SME IPOs are from small and medium enterprises listing on the NSE Emerge or BSE SME platforms; they have a higher minimum investment (typically ₹1–1.5 lakh per lot), lower liquidity, and higher risk and reward. On this page, SME issues are tagged with an 'SME' label.

What do QIB, NII and Retail mean in IPO subscription?

These are the three investor categories an IPO is divided into. QIB (Qualified Institutional Buyers) are institutions like mutual funds, banks, insurance companies and FIIs. NII (Non-Institutional Investors), also called HNIs, are individuals and entities applying for more than ₹2 lakh. Retail Individual Investors (RII) apply for up to ₹2 lakh. Each category has a reserved portion of the issue, and the 'subscription times' (e.g. 9.68×) shows how many times the shares offered in that category were bid for.

What does it mean when an IPO is oversubscribed?

Oversubscription means investors have bid for more shares than are on offer — a subscription of 9.68× means the issue received bids for 9.68 times the available shares. High oversubscription, especially in the QIB category, is often read as strong institutional demand. When an IPO is oversubscribed, retail shares are allotted by a computerised lottery, so applying does not guarantee allotment.

How can I check my IPO allotment status?

IPO allotment is finalised and published by the issue's registrar (such as Link Intime / MUFG Intime, KFin Technologies, Bigshare or Cameo) — not by the stock exchange. A day or two after the issue closes, you can check allotment status on the registrar's website using your PAN, application number, or DP/Client ID. The relevant registrar link is provided on each IPO's detail page. You can also check via your broker or the BSE/NSE IPO status pages.

When does an IPO list after the issue closes?

Under the current T+3 listing timeline mandated by SEBI, shares are typically listed on the exchange within 3 working days of the issue closing date. Allotment is usually finalised the next working day after close, refunds/unblocking of ASBA funds happen shortly after, shares are credited to demat accounts, and trading begins on the listing date shown on each IPO page.

Where does the IPO data on this page come from?

IPO listings, price bands, issue dates, and live subscription figures are sourced from official NSE exchange data and updated through the trading day. Subscription numbers for open issues update during bidding hours. Allotment results are published by the respective registrars. This page is provided for information only and is not investment advice or a recommendation to apply to any IPO.

How do I check my IPO allotment status online by PAN number?

Open the IPO registrar's allotment-status portal (KFin Technologies, MUFG Intime, Bigshare, Cameo, Maashitla or Skyline), select the IPO from the dropdown, choose 'PAN' as the search type, and enter your 10-character PAN. The portal shows the number of shares allotted to you. You can also check by application number or DP/Client ID, and verify the same on the BSE IPO status page or in your broker app.

When is IPO allotment finalised and how do I know if I got shares?

Allotment is normally finalised by the registrar on the next working day after the issue closes (under SEBI's T+3 listing timeline). If you are allotted shares, they are credited to your demat account a day or two before listing and your ASBA block is debited only for the allotted amount. If you are not allotted, the full blocked amount is released back to your bank account. Checking on the registrar's portal by PAN is the quickest confirmation.

Which registrar handles my IPO — KFintech, Link Intime, Bigshare or another?

Each IPO has exactly one registrar, named in its prospectus (RHP) and shown on that IPO's detail page on this site. KFin Technologies (KFintech) and MUFG Intime (formerly Link Intime) handle the majority of mainboard issues; Bigshare, Cameo, Maashitla and Skyline are common for SME issues. Use the matching registrar's portal — searching the wrong registrar's site will not find your application.

Why does the IPO not show up on the registrar's allotment page yet?

The IPO only appears in the registrar's dropdown once allotment has been finalised — typically one working day after the issue closes. Before that, the basis of allotment is still being processed. If the issue has closed and a day has passed but it still isn't listed, the registrar may not have published it yet; check back later in the day.

Is IPO allotment guaranteed if I apply?

No. When an IPO is oversubscribed (more bids than shares on offer), retail allotment is decided by a computerised lottery mandated by SEBI, so applying does not guarantee shares. Applying at the cut-off price and submitting a valid, fully-funded ASBA/UPI application maximises your eligibility, but allotment in an oversubscribed retail category is by random draw of valid applications.

IPO Allotment Status — Check Online by PAN

Check your IPO allotment status by PAN number, application number or DP/Client ID. IPO allotment is finalised by each issue's registrar — use the direct portal links below, or verify on NSE, BSE and your broker app.

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Registrar Portals

Check Allotment on the Registrar's Website

Each IPO appoints one registrar (RTA). Open the matching portal, select the IPO, and search by PAN. The registrar for any issue is shown on its IPO detail page.

MUFG Intime (Link Intime)KFin Technologies Bigshare Services Cameo Corporate Services Maashitla Securities Skyline Financial Services

BSE — IPO Allotment Status NSE — IPO Bid / Allotment

How to Check IPO Allotment Status by PAN

1
Find out who the registrar is
Every IPO appoints one registrar (RTA) that processes applications and finalises allotment — commonly KFin Technologies, MUFG Intime (formerly Link Intime), Bigshare, Cameo, Maashitla or Skyline. The registrar for an issue is named in its Red Herring Prospectus (RHP) and on each IPO's detail page here.
2
Open the registrar's allotment-status portal
Go to that registrar's public 'IPO Allotment Status' page (links below). Select the IPO from the dropdown — it appears once allotment is finalised, usually the working day after the issue closes.
3
Search by PAN, application number or DP/Client ID
Enter your PAN (most reliable), the application number from your ASBA/UPI confirmation, or your demat DP/Client ID. The portal returns how many shares were allotted against your application.
4
Cross-check on BSE / NSE or your broker
You can also verify on the BSE IPO status page, the NSE allotment page, or inside your broker app (Zerodha, Upstox, Angel One, Dhan, etc.). Allotted shares are credited to your demat a day or two before listing.

FAQs

IPO Allotment — Frequently Asked Questions

Registrar and exchange links are provided for convenience. OptionX does not process IPO applications or allotments. For information only — not investment advice.

IPO Allotment Status — Check Online by PAN

Check Allotment on the Registrar's Website

How to Check IPO Allotment Status by PAN

Find out who the registrar is

Open the registrar's allotment-status portal

Search by PAN, application number or DP/Client ID

Cross-check on BSE / NSE or your broker

IPO Allotment — Frequently Asked Questions