Jupiter Life IPO was oversubscribed by 40 times in BNII category. As per my understanding, for BNII, allotment is proportional, which meant that allotment was guaranteed.
Applied for 10L, 40x subscription, which means each investor gets 10L/40 worth of shares. Approx 25k, meaning 1 lot was guaranteed.
However to my surprise, I didn’t get any allotment. What could be the reason? I applied via ASBA via IDFC First Bank. Shall I raise a complaint with the bank?