Question 1

How to check live IPO subscription status?

Accepted Answer

You can monitor real-time IPO subscription rates directly on this page during active bidding hours. The data is updated continuously from BSE and NSE exchange feeds across Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII/HNI), and Retail Individual Investors (RII).

Question 2

What do QIB, NII, and Retail subscription numbers indicate?

Accepted Answer

QIB (Qualified Institutional Buyers) demand reflects smart-money and institutional confidence (mutual funds, insurance, foreign investors). NII (Non-Institutional Investors/HNIs) signals high-net-worth investor appetite, and Retail (RII) reflects individual public interest. Heavy oversubscription across all three categories generally indicates strong listing day sentiment.

Question 3

What are the BSE and NSE IPO bidding hours?

Accepted Answer

IPO bidding is open from Monday to Friday between 10:00 AM IST and 5:00 PM IST. Bidding closes at 5:00 PM IST on the final issue day, after which exchanges aggregate final UPI mandates and syndicate applications.

Question 4

What is the difference between sNII (₹2L - ₹10L) and bNII (> ₹10L)?

Accepted Answer

SEBI splits the NII/HNI category into two tiers: Small HNI (sNII) for applications between ₹2 Lakh and ₹10 Lakh (one-third of NII quota allocated), and Big HNI (bNII) for bids exceeding ₹10 Lakh (two-thirds of NII quota allocated). Both tiers allocate shares on a lottery draw system in case of oversubscription.

Question 5

How does heavy oversubscription impact lottery allotment?

Accepted Answer

When the retail or HNI category is oversubscribed by multiple times (e.g. 20x), every valid application has a proportionate probability of being picked via a computerised randomised lottery draw. In retail, allotment is restricted to a maximum of one lot per lucky applicant regardless of how many lots were applied for under the same PAN.

Question 6

Why does QIB subscription remain low on Day 1 and Day 2?

Accepted Answer

Qualified Institutional Buyers (QIBs) typically submit their large institutional bids on the final day (Day 3) between 2:00 PM and 4:30 PM IST. This allows fund managers to observe retail/HNI momentum and evaluate total demand before committing institutional capital.

IPO Subscription Status Live 2026

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QIB (50% Quota)

NII / HNI (15% Quota)

Retail (35% Quota)

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