What happens if HNI quota for tax free bonds is oversubscribed 4-5 times?

Suppose an HNI has subscribed for 1 crore rupees, but the tax free bond is oversubscribed 4 times. Now will he get alloted for only 25 lac rupees or the subscription is based on first come first serve ?

If your name was Stonecold Steve Austin, you would have been an HNI too.

In general allotment in these Tax Free bonds will happen on First come First Serve basis. So he gets 1 crore, you get nothing. So apply fast.