Why did't I get allotment for my BSE IPO application?

[Bhuvan]

@BA2Trader

Bhuvanesh, IPO allotment not on first come first serve basis even if IPO is over subscribed later (on next day)?

Check this post.

Price discovery of IPO

I always under perception IPO issue/allotment price will be CUTOFF price. SBI Life Insurance have applied at Rs. 690 since price range is in between 685-700 and as of today this IPO is under subscribed i.e., below 1%. If IPO close with under subscribed, Do I get shares allotted at Rs. 690 ? Please clarify.