IPO oversubscribed- how do they allot

[ShubhS9]

In retail category, the allotment is done on a random basis. For categories other than retail, the allotment is done on a proportionate basis. You can check out this post for more details:

Applying IPO as an HNI

Allotment for HNI category is done on proportionate basis, compared to Retail Category where allotment is done randomly in case of over subscription chances of allotment are high in HNI category. You can read the point 7.6.1.1 here to know how the allotment on proportionate basis works.