Allotment and listing day
After bidding closes, shares are allotted, unused money is released and the shares start trading. In India this happens within about three working days of the issue closing.
How allotment works
If the retail portion is oversubscribed, shares are allotted by a computerised lottery so that as many applicants as possible get one lot. Applying for more lots doesn’t improve your chance much; applying from separate eligible accounts in your family does.
You can check allotment on the registrar’s website or the exchange websites using your PAN or application number.
Money and shares
Your money was only blocked when you applied. If you don’t get shares, the block is released. If you do, only the amount for the allotted shares is debited, and the shares arrive in your demat account before listing day.
Listing day
On listing day the shares start trading at a price set by demand in a short pre-open session. It can be above or below the issue price.
Listing-day gains get headlines, but what matters for an investor is how the business does over the following years. Decide in advance whether you are holding for the long term, so one day’s price doesn’t make the decision for you.
See it in a real issue
For Jio Platforms, allotment is expected around 26 October 2026, with refunds and demat credit around 27 October and listing on NSE and BSE around 28 October. The Jio page is updated as each step happens.
A retail IPO portion is heavily oversubscribed. How are shares given out?
- First come, first served
- By lottery, aiming to give as many applicants as possible one lot
- In proportion to how much each person bid
Show the answer
By lottery, aiming to give as many applicants as possible one lot. When retail demand is too high, a computerised lottery decides who gets the minimum lot, so the maximum number of applicants get shares.
Common questions
How do I check IPO allotment status?
On the registrar’s website or the NSE and BSE websites, using your PAN, application number or demat account number.
When will I get my refund if I don’t get shares?
Your money was only blocked, not taken. The block is released within about a day after allotment is finalised.
Should I sell on listing day?
That depends on why you applied. Decide before listing whether you are holding for the business or for a short-term trade, and stick to it.
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