How to Check IPO Allotment on NSE and BSE: Steps, T+3 Timeline and Status Meanings

You’ve applied, approved the UPI mandate and sat through the bidding window. Now the anxious bit: did you actually get shares? This guide shows how to check IPO allotment NSE BSE style, on both exchanges and on the registrar’s website. We also cover when results land under SEBI’s T+3 timeline and what each status message is really telling you.

How to check IPO allotment on NSE and BSE: the quick route

• NSE: log in to NSE’s IPO bid verification page, pick the issue symbol, type in your application number and hit “Get Data”.
• BSE: open BSE’s application status page, pick the issue, enter your application number or PAN and hit “Search”.
• Registrar (RTA): go to the registrar’s IPO allotment page, pick the issue and search by PAN, application number or demat account.

These steps are based on Zerodha’s support guide on checking IPO status, and they work no matter which broker you applied through.

Checking on NSE, step by step

1. Head to the NSE IPO bid verification page. Zerodha’s guide points to nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp.
2. Log in, or register with your PAN if it asks you to.
3. Choose the IPO symbol from the drop-down.
4. Type in your application number. You’ll find it in your broker’s IPO order book or in the bank’s ASBA confirmation.
5. Click Get Data.

Checking on BSE, step by step

1. Go to bseindia.com/investors/appli_check.aspx.
2. Choose the issue type (equity) and then the issue name.
3. Enter either your application number or your PAN.
4. Fill in the captcha and click Search.

One useful tip from Zerodha: if your status doesn’t show up on one exchange, try the other. It also says bid status on NSE and BSE stays viewable for up to 10 days after the IPO closes.

If one exchange shows nothing, don’t panic. Check the other exchange, then the registrar. The data is often in one place before the others.

Checking on the registrar’s website

Every IPO has a registrar and transfer agent (RTA) that actually runs the allotment. You’ll find its name in the offer document and on the issue’s page on the exchange. Zerodha’s guide lists the RTAs you’ll run into most often:

• MUFG Intime (formerly Link Intime): in.mpms.mufg.com/Initial_Offer/public-issues.html
• Bigshare Services: bigshareonline.com/ipo_Allotment.html
• KFin Technologies: ipostatus.kfintech.com

Once you’re on the RTA site, pick the company and search with your PAN, application number or DP/client ID.

When the RTA says “No records found”

This one throws a lot of people. Zerodha’s article on RTA errors explains that some RTAs simply don’t list applications that weren’t allotted. So instead of a clear “not allotted”, you may get “No Records found”, “PAN not found” or “Bid not found”. Zerodha’s advice is to check your application or mandate status on NSE or BSE with your application number, one day after the bidding date.

When does allotment come out? The T+3 timeline

SEBI’s circular of August 9, 2023 shortened the gap between issue closure and listing from T+6 to T+3 working days, with T being the day the issue closes. Issues opening from September 1, 2023 could follow it voluntarily, and it became mandatory for issues opening on or after December 1, 2023.

Here are the key steps from the circular’s indicative timeline:

What that means on the ground: allotment status usually shows up on the evening of T+1 or the morning of T+2. Shares reach your demat by the evening of T+2, and the stock lists on T+3.

A worked example

Say an IPO closes on a Wednesday (an illustrative case). The week would run like this:

• Thursday (T+1): the basis of allotment is finalised and status starts showing.
• Friday (T+2): refunds get unblocked and shares are credited.
• Monday (T+3): the stock lists, because Saturday and Sunday aren’t working days.

Exchange holidays push things back too, since T+3 counts only working days.

What the status messages mean

Finding your application number

• Broker app: go to the IPO section and open your order or bid history.
• UPI app: the mandate details normally show the IPO name and amount, though not always the application number.
• Bank ASBA: look in your netbanking IPO or ASBA history.

Still can’t find it? Search by PAN on BSE or the RTA site instead.

Look at your demat and bank account

Honestly, your own accounts give you the surest answer:

• Demat: allotted shares turn up in your holdings by T+2, often with an SMS or email from CDSL or NSDL.
• Bank: if you got shares, the blocked amount for them is debited. If you didn’t, the block is lifted. If you got fewer shares than you bid for, the rest is released.

If money is still blocked after T+2, call your bank first. It’s the bank that handles the unblocking, not the broker.

Using your broker app

Most broker apps update the IPO order status once the registrar’s file comes out. You might see “allotted”, “not allotted” or “refund initiated” next to your bid. Handy, yes. But it depends on the broker getting the data and processing it in time. If the app still hasn’t updated by T+2, go by the exchange or registrar sites and your demat holdings.

Checking for family members

Every applicant needs their own PAN, demat account and bank account. That means you have to check each person’s status separately.

• On BSE and the RTA sites, search with each applicant’s PAN.
• On NSE, use each application number.
• Keep a small table with applicant, PAN, application number and bid amount. On allotment day it saves a lot of scrambling.

And don’t use one person’s bank account or UPI ID to apply for someone else. Applications made through third-party accounts can be rejected.

Saving time on allotment day

• Bookmark the BSE status page and the registrar’s page for the IPO before bidding closes.
• Keep application numbers and PANs handy in a note.
• When a hot IPO’s allotment comes out, the exchange and registrar sites often crawl. Come back a little later instead of hammering refresh.
• Turn on SMS or email alerts with your depository so you hear when shares are credited.

Why didn’t I get any shares?

When an IPO is oversubscribed, retail and small-HNI allotment is decided by a draw of lots. Every valid application gets the same chance at the minimum lot, which is why most people in a heavily oversubscribed issue walk away with nothing. Bidding for more lots in the retail category won’t improve your odds.

For bigger bids, our guide to applying in the HNI category explains how allotment works there.

In a lottery-style allotment, not getting shares isn’t a mistake on your part. It’s how the maths works when demand far exceeds supply.

Mistakes we see often

• Checking too soon: status often isn’t up until the evening of T+1.
• Relying on one site: try NSE, BSE and the RTA.
• Picking the wrong issue type: on BSE, make sure you’ve chosen the right one (equity vs debt).
• Mixing up PANs: if family members applied, check every PAN on its own.
• Trusting unofficial sites: stick to the exchanges, the RTA or your broker.

Got shares? Here’s what to do next

1. Confirm the shares are in your demat by T+2.
2. Settle your listing-day plan before the market opens: hold, sell part or exit.
3. Keep in mind that listing-day prices can swing wildly, especially in the first hour.
4. Hang on to the allotment record for tax. The allotment price is your cost of acquisition.

Frequently asked questions

Can I check allotment before the official date?

No. Status shows up only after the basis of allotment is finalised, and SEBI’s timeline puts that on T+1.

My UPI mandate shows “executed”. Did I get shares?

If the mandate is executed after allotment, money has usually been debited, which points to shares being allotted. Still, confirm it on the RTA or exchange site and in your demat.

How long can I check bid status on the exchanges?

Zerodha says up to 10 days after the IPO closes.

Do I need to do anything to receive allotted shares?

No. Allotted shares are credited automatically to the demat account named in your application. There’s nothing to accept or claim. Just make sure that demat account is active and the details you gave were correct.

Key takeaways

• You can check allotment on NSE (symbol + application number), BSE (application number or PAN) or the registrar’s site.
• Under SEBI’s T+3 rule, allotment is finalised on T+1, shares and refunds follow on T+2, and listing happens on T+3.
• “No records found” on the RTA site may just mean you weren’t allotted. Check on the exchanges to be sure.
• Your demat and bank account are the final word.

Just getting started with IPOs? Read our guides on how to apply for IPO in Zerodha and IPO investing in India.

This article is for educational purposes only and is not investment advice.