← Writing / IPO Basics
The Wait Is Over: How to Find Out If You Got Shares
The IPO subscription window has closed. You have applied. Now comes the anxious wait for allotment status. If you have never navigated the registrar websites before, the process can feel confusing, there are multiple registrars, multiple ways to check, and the results often come with terminology that is not self-explanatory.
This guide covers how to check your allotment status on every major registrar, via BSE and NSE, and what the timeline looks like from subscription close to listing day.
The IPO Timeline: T+6 Allotment, T+8 Listing
Understanding the timeline helps set expectations. In India, the current IPO settlement timeline works as follows:
T is the date the IPO subscription closes. Allotment happens on T+6. Refunds (for unsuccessful applicants) are processed on T+6 as well, with funds unblocked from ASBA accounts. Listing and commencement of trading happens on T+8, that is, 8 business days after the subscription closes.
SEBI has been progressively shortening this timeline. The move to T+6 listing (previously T+12, then T+10, then T+6) has made the process faster for investors. The eventual goal is a T+3 listing cycle.
Who Are the Registrars and Why Do They Matter?
A registrar to an issue is the intermediary that manages the IPO application process, collecting applications, processing allotment, issuing share certificates (in demat form), and handling refunds. Every IPO is assigned a specific registrar, and you need to check the registrar for that particular IPO to find your allotment status.
The three major registrars handling the bulk of Indian IPOs are:
KFintech (formerly Karvy Fintech): One of the largest registrars, handling many high-profile mainboard IPOs. Website: kfintech.com (IPO allotment section).
Link Intime India: Another major registrar with a large share of IPO mandates. Website: linkintime.co.in.
Bigshare Services: Handles a significant number of SME and mainboard IPOs. Website: bigshareonline.com.
Smaller registrars include Cameo Corporate Services and Integrated Registry Management Services. The registrar for a specific IPO is mentioned in the DRHP (Draft Red Herring Prospectus) and on the IPO details page of your broker platform.
How to Check on KFintech
Go to kfintech.com and navigate to the IPO allotment status section (usually under “Investor Services” or directly searchable as “IPO allotment”). Select the IPO name from the dropdown. You can check status using one of three methods: PAN number, Application number, or DP/Client ID (your demat account details). Enter the relevant details, complete the CAPTCHA, and submit. The result shows whether you have been allotted shares and how many lots.
How to Check on Link Intime
Go to linkintime.co.in and look for the IPO allotment status section. Select the company name, enter your PAN or application number, and submit. Link Intime also offers a PAN-based lookup that works across all issues they handle, useful if you cannot recall which IPO you applied for.
How to Check on Bigshare
Visit bigshareonline.com. The IPO allotment check is typically under the “Investor” section. Select the IPO, enter your PAN or application number, and check. Bigshare’s interface is more straightforward, select company, enter identifier, get result.
Checking via BSE and NSE
Both BSE and NSE offer centralised IPO allotment status checks, useful if you are not sure which registrar handled a particular IPO.
On BSE: Go to bseindia.com, navigate to the “Investors” section, then to “Status of Issue Applications.” Select the issue type (equity IPO), enter your application number or PAN, and check.
On NSE: Go to nseindia.com, find the “IPO” section, and look for allotment status. Enter your PAN or application details for the specific issue.
Using your PAN to check allotment status works across all registrars and both exchanges, it is the most universally reliable method.
What to Do If You Get No Allotment
For oversubscribed IPOs, most retail applicants do not get allotment. This is normal and expected, allotment in the retail category is done by lottery when the issue is oversubscribed, and each eligible applicant gets one lot or nothing. The probability of allotment depends on the subscription level.
If you do not get allotment, your ASBA block is released. No funds are debited. You can then decide whether to buy the stock in the secondary market after listing, a decision you should make based on post-listing price and your view of the business, not FOMO from the listing buzz.
For more on the allotment lottery mechanism, see what happens if an IPO is not fully subscribed. And if you want to understand how the cut-off price works at the application stage, read what is cut-off price in IPO.
Allotment in Your Demat Account
If you are allotted shares, they appear in your demat account on allotment day (T+6). You can verify this through your depository participant (CDSL or NSDL), your broker’s platform, or CDSL’s myEasi / NSDL’s IDeAS portal directly. The shares are credited as “locked-in” until listing day, you cannot sell them before trading begins.
On listing day (T+8), your shares become freely tradeable and you can sell or hold as per your strategy.
Disclaimer: This article is for educational purposes only and does not constitute financial advice. Please consult a SEBI-registered advisor before making investment decisions.