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Oversubscription, lottery aur retail category ka mechanism
Published by The Retail Trader · AUG 02, 2026 · Market Basics
IPO mein apply karne wale zyadatar log ye nahi jaante ki allotment kis niyam se hota hai, aur isliye zyada lots apply karke chance badhane ki koshish karte hain. Retail category mein wo koshish aksar kaam nahi karti.
Issue teen bade hisson mein banta hai — retail, non institutional aur qualified institutional. Har hisse ka apna allotment ka tarika hota hai, aur ek category ka oversubscription doosri par seedhe asar nahi daalta.
Retail mein agar issue oversubscribed hai to allotment lottery se hota hai, aur lottery ki unit ek lot hoti hai. Yaani do lot apply karne se do lot milne ka chance nahi banta, minimum ek lot ka chance banta hai.
Ye baatein mechanism ka hissa hain, kisi tip ka nahi:
• Bahut zyada oversubscribed issue mein allotment ka chance ganit se hi kam hota hai.
• Alag alag demat accounts ek hi PAN par ek hi application maane jaate hain.
• Application ke paise mandate se block hote hain, debit nahi — allotment ke baad hi kate hain.
• Listing gain koi entitlement nahi hai; listing neeche bhi ho sakti hai.
IPO ko listing lottery ki tarah dekhna ek behaviour ban jaata hai jo baad mein secondary market mein bhi chalta hai. Agar company aapko pasand hai to wo listing ke baad bhi kharidi ja sakti hai — aur tab aapke paas ek asli price chart bhi hota hai.
Ye article sirf educational hai — koi buy ya sell recommendation nahi, koi guaranteed return ka daawa nahi, aur koi advisory nahi. Rules, rates aur mechanics exchange, SEBI aur RBI time-time par badalte hain, isliye har number apne broker ya official source par khud verify karo.