Main board IPOs are based on lottery system. Over subscription in all quota including hni are distributed based on lottery.
In SME IPOs hni are distributed based on amount blocked while the retail portion is based on lottery. So applying large quantities in hni quota will guarantee an allotment but the size of allotment will be based upon subscription level and amount blocked.
Small size of IPO and lot size also limits the number of people getting allotment in SME.
Which IPOs are you interested in at present?
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