hi, guys have got the money back in my account. and the shares too..
pleasantly surprised that have got 45% allotment in the Non-Institutional category, even though on closing day the subscription was 3.38x.
and almost 1/3rd in retail.
this is the catch in IPO when one goes on NIB subscription details . NIB till now applying through cheque only(ASBA not allowed to NIB & QIB ) and as per their convinience used to stop payments after closure of issue resulting in fall of subscription level.
for example giving herebelow application status
united bank : 163451 applicaion recieved out of this only 363 appl were from NIB and 162 from QIB . Rest all were from Retail & employees aroung 1.63 lacs , out ot this 98% on cutoff and 50% through ASBA. so you will find that withdrawal after closure will have negligeble effect in Retail sector oversubsciption , while in NIB such withdrawals after closure may have higher impact on oversubscription.
SJVNL recieved 190258 application and on basis of above example you may assess NIB & QIB around 500 appl only.few years back till IPO boom of early 2008 upto Reliance Power , applictions 10 lac and above were a common feature resulting in huge oversubscription.
hope above will satisfy your querry of getting higher allotment in NIB portion then in Retail portion applications
NOW with new SEBI rules after 1st may IPO all are allowed to use ASBA mode also , which will block funds for a week only and may give better and realistic oversubsription in NIB and QIB , theirby in overall subscription figure on preclosing days of IPO