If I have applied for more than 1 lot (increased quantity of shares) in IPO, and if it gets oversubscribed, and I get the allotment, how many shares will I receive? One lot only or on pro-rata basis?
For retail, sHNI, and bHNI categories, The allotment will happen on a Lottery basis.
@mohitmehra has explained the allotment process in detail in the below Z-connect post. Please check it out