How long after closing is IPO allotment announced?

Usually one working day after the issue closes, as part of SEBI's T+3 timeline. The exact date is listed on each IPO's page.

When do allotted shares appear in my demat account?

Normally the working day before listing, once the registrar instructs the depositories.

How is allotment decided in an oversubscribed IPO?

Retail applications are picked by a computerised lottery among valid bids. It is random, not first-come-first-served.

IPO guides · Reviewed 23 Oct 2026

IPO Allotment Process and Timeline (T+3)

After an IPO closes, the registrar finalises the basis of allotment, unblocks funds for unsuccessful applicants and shares are credited to demat accounts. Under SEBI's T+3 timeline the shares list three working days after the issue closes.

T

Issue closes. Applications are validated.

T+1

Basis of allotment is finalised. Status usually becomes visible.

T+2

Shares are credited and unblocked funds are released.

T+3

Shares list on the exchange.

What happens after the issue closes

The registrar checks every application for valid PAN, demat details and duplicates, then works out how many shares each category gets based on demand.

If a category is undersubscribed, every valid applicant gets what they asked for. If it is oversubscribed, allotment is by computerised lottery for retail applicants.

Refunds and demat credit

Because money is blocked rather than paid, unsuccessful applicants do not get a transfer; the block on their account is simply removed. Allotted shares are credited to the demat account, and the amount for them is debited.

When can you check your status?

Once the registrar publishes the basis of allotment, usually the working day after the issue closes. Status can be checked by PAN, application number or demat details on the registrar's site, on the exchanges, or on IPOCheckr.

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