No. In oversubscribed IPOs, allotment works on a lottery basis within each investor category, such as retail or HNI. Every valid application in a category has an equal chance, and no strategy improves your odds.
Common misconceptions
- Applying early improves your chances: The timing of your application has no bearing on allotment, as long as you submit it within the IPO window.
- Submitting multiple applications improves your chances: Submitting more than one application under the same PAN in the same category results in all of them being rejected during validation, reducing your chances to zero.
- Applying for more lots improves your chances: In the retail category, allotment is on a per-application basis, not per lot. Applying for more lots does not increase your probability of receiving allotment.
What you can do
Ensure your application is valid and correctly submitted. That is your only assured path to participating in the allotment process. IPO applications are commonly rejected due to multiple applications under the same PAN, an incorrect UPI ID, or a pending mandate approval, so double-check each of these before submitting.