Didn't get Jupiter Life IPO even in BNII category

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?

It’s lottery system even for bNII now I think. Check this - New IPO Allotment Rules for HNI Category – The Nirvik.

Not 100% sure as getting conflicting information from other sources.

@mohitmehra Could you plz confirm if prorata allotment has been discontinued for bNII also?

its not proportional any more. SEBI has changed the rules. Read here: