I had applied for 330 shares of Thyrocare IPO. It appears that I have not been alloted any shares at all. How is this possible?
The issue of Thryocare got oversubscribed 73.55 which means that for every 1 share that the company was issuing, it was getting close to 74 bids. In such cases where there’s oversubscription, the company chooses to allot the shares only to select investors. In case you aren’t one of them, you don’t get allotment.
In future if an issue is getting oversubscribed, it’s best to apply for 1 lot only as the chances of allotment increase.
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It is because of over subscription to the issue. For example if the retail subscription is for 1 lakh and minimum lot size value is 1000 as one has to apply in lots then only for max 100 allottees we can distribute the shares considering we can not break down minimum lot size value (1000 in this case) and can not increase the total subscription value (1 lakh in this example). Thus if more than 100 investors subscribed for this IPO the process of allocation is done via a process called draw of lots which is computerized, basically we can paralleled it to lottery system.
Why are u crying,i am HNi client of kotak securities also,i applied for 5610 stocks,i got only 330 stocks,what a mess it was,applied for huge quantity and got this bullshit