I haven't received the OFS allotment despite placing the request before cut-off.
The OFS allotment is decided by the exchanges and hence, is outside the purview of the broker. The cut-off price is based on the bids placed by the general (non-retail) category. The allotment price can be higher in case the demand for the OFS is high. You can read the following for clarity on the allocation methodologies.
The allotment is based on either one of the two methodologies.
i. Price priority (multiple prices) basis: Retail investors may be allocated shares at a discount to the cut-off price determined in the retail category, irrespective of the bid price entered by them or, Retail investors may be allocated shares at a discount to the bid price entered by them.
ii. Proportionate basis at a single clearing price: Retail investors shall be allocated shares at a discount to cut off price determined in the retail category
Scenarios under which Retail investor bids will be rejected and not considered for allocation:
- Minimum 10% of the offer size shall be reserved for retail investors. For this purpose, retail investor shall mean an individual investor who places bids for shares of total value of not more than Rs.2 lakhs aggregated across the exchanges. If the cumulative bid value across exchanges exceeds Rs.2 lakhs in the retail category, such bids shall be rejected.
- Individual retail investors shall have the option to bid in the retail category and the general category. However, if the cumulative bid value of such investors exceeds Rs.2 lakhs, the bids in the retail category shall become ineligible.
You can read BSE's document for more clarity on the allocation of OFS.