I had applied in the IPO of Ujjivan Financial Services through ICICI Direct account for 6 lots at the cut off price of 210 per share (Retail Category) which ended last week on 2nd May. My application was accepted and validated, etc but I haven’t been allotted any shares post the allotment process.
I’m really struggling to understand the reasons for the same? The only reason that comes to mind is that I applied on the last day and hours before the IPO closed. I had read on the IPO allotment process before applying that if you apply at the cut-off price you’re guaranteed to get allotment in proportion to the issue subscription (so it was subscribed 4 times in the retail category - I should’ve got 25% of the shares applied for)
So I’m really interested in understanding how the IPO allotment takes place and what mistakes I made??
PS: The objective of this thread is not to focus on the business prospects / financial analysis of Ujjivan or any other company.