Jupiter Life IPO was oversubscribed by 40 occasions in BNII class. As per my understanding, for BNII, allotment is proportional, which meant that allotment was assured.
Utilized for 10L, 40x subscription, which suggests every investor will get 10L/40 price of shares. Approx 25k, which means 1 lot was assured.
Nonetheless to my shock, I didn’t get any allotment. What could possibly be the rationale? I utilized by way of ASBA by way of IDFC First Financial institution. Shall I increase a criticism with the financial institution?
It’s lottery system even for bNII now I feel. Examine this – New IPO Allotment Guidelines for HNI Class – The Nirvik.
Not 100% certain as getting conflicting info from different sources.