Subscription updated: 11 Jul 2026, 8:15 AM IST · from BSE/NSE bidding data
IPO Subscription Status Today
What QIB, NII and retail subscription numbers actually mean, how shares are split between them, and an odds calculator for your allotment chances at any subscription level.
Live GMP updates are paused — last verified snapshot: 11 Jul 2026, 8:15 AM IST.
Grey-market quotes are frozen at that refresh. Everything else on this page — IPO dates and bands (from exchange filings), the GMP-vs-reality scorecard, and the how-to guides — stays accurate, because none of it depends on a daily number.
| IPO | Total subscribed | QIB | NII / HNI | Retail | Status |
|---|---|---|---|---|---|
| Laser Power & InfraMainboard | 1.05xDay 2 closeas of 10 Jul close | 0.68x | 2.03x | 0.85x | Open |
| Devson CatalystBSE SME | 30.15xDay 2 closeas of 10 Jul close | 2.60x | 36.84x | 42.76x | Open |
| Happy SteelsNSE SME | 3.18xDay 2 closeas of 10 Jul close | 0.63x | 5.74x | 3.55x | Open |
| SBI Funds ManagementMainboard | Opens 14 Jul — bidding starts then | Upcoming | |||
| Alpine TexworldMainboard | Opens 14 Jul — bidding starts then | Upcoming | |||
| Millworks TechnologiesBSE SME | Opens 14 Jul — bidding starts then | Upcoming | |||
| KusumgarMainboard | 135.76xFinalas of close, 10 Jul | 299.51x | 174.28x | 27.88x | Closed |
"10x" means the IPO was applied for 10 times the shares on offer · QIB = big institutions · NII/HNI = ₹2 lakh+ applications · Retail = up to ₹2 lakh · figures from BSE/NSE bidding data as of the timestamp above
At 10x retail subscription, roughly
1 in 10 applications
gets the minimum lot — a 10% chance per PAN.
1 family PAN
10%
2 family PANs
19%
3 family PANs
27%
How it works: once retail is oversubscribed, SEBI's allotment rule is a computerised lottery per PAN for one minimum lot — bigger applications don't improve retail odds, but separate (genuine) family PANs are separate lottery entries. The 1-in-N figure is the standard approximation; the exact basis of allotment is published by the registrar per IPO.
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Subscription data from BSE/NSE bidding portals as of the timestamp above — numbers move fast near the close, so check the exchange portals on the final day. Not investment advice; apply on the company's fundamentals. Bookmark this page.
How to read IPO subscription (and why it matters)
When an IPO opens, investors place bids for its shares over a two-to-three day window. Subscription status is simply the running score: how many times the shares on offer have been applied for. A mainboard IPO subscribed 10x has attracted bids for ten times the shares available — a clear signal of demand.
But the single total hides the real story, which is whois buying. That's why our table splits it three ways:
- QIB — Qualified Institutional Buyers (mutual funds, banks, insurers). Their money is the most informed in the room; strong QIB subscription is the signal seasoned investors watch most.
- NII / HNI — Non-Institutional Investors, i.e. applications above ₹2 lakh. Often funded by short-term loans, so heavy NII interest usually means listing-gain chasing.
- Retail — individual applications up to ₹2 lakh. This is you. Retail is where the lottery bites hardest.
The subscription paradox
Here's the twist nobody puts up front: the more heavily an IPO is subscribed, the lesslikely you are to get shares. At 66x retail subscription, only about 1 in 66 applications wins the minimum lot in the allotment lottery. So a soaring subscription is good news for the listing pop and bad news for your odds of being on it. That's the honest trade-off — read it with our GMP tracker for the expected gain, then check the allotment status once bidding closes.
Subscription figures are sourced from the BSE and NSE bidding portals and change continuously while an IPO is open; treat mid-day numbers as a snapshot. Nothing here is investment advice — apply on fundamentals, not on a subscription figure.
A worked example from the live table
Take Kusumgar, currently 135.76x subscribed overall — QIB 299.51x, NII 174.28x, Retail 27.88x. Read it like this: the QIB figure tells you what institutions with research desks concluded; the NII number is largely leveraged money betting on a listing pop; and as a retail applicant at 27.88x, your odds of landing the minimum lot are roughly 1 in 28. If you want a realistic shot, applying from two or three family PANs — each a separate application — is the legal way to improve those odds. One allotment that lists 40% up is still a worthwhile year.
Figures as of close, 10 Jul. Subscription climbs sharply in the final hours of the last bidding day, so a mid-window number understates where an IPO finishes.
Frequently asked questions
What does IPO subscription status mean?
Subscription status shows how many times an IPO has been applied for, versus the number of shares on offer. '10x subscribed' means investors bid for 10 times the available shares. The higher the subscription, the stronger the demand — but also the lower your odds of getting an allotment, because shares are then allotted by lottery.
What are QIB, NII and Retail categories?
Every IPO reserves shares for three investor groups. QIB (Qualified Institutional Buyers) = large institutions like mutual funds and banks. NII/HNI (Non-Institutional Investors / High Net-worth) = applications above ₹2 lakh. Retail = applications up to ₹2 lakh — that's most individual investors. Each category's subscription is tracked separately because allotment rules differ for each.
Does high subscription mean I'll make money?
Not directly. Heavy subscription signals strong demand, which often (not always) leads to a good listing — but it also cuts your allotment odds sharply. QIB subscription is usually the most meaningful signal, because institutions do deep due diligence. Retail-only enthusiasm can be froth. Always weigh subscription alongside the company's fundamentals and the GMP.
How is IPO allotment decided when it's oversubscribed?
For retail investors, once an IPO is oversubscribed, allotment is by a computerised lottery on a per-PAN basis — applying for more lots doesn't improve odds beyond one lot's worth. That's why, at 66x subscription, roughly 1 in 66 retail applications gets the minimum lot. Applying from multiple family PANs is the common (legal) way to raise your chances.
How often is this subscription data updated?
Subscription figures come from the BSE and NSE bidding portals and move constantly while an IPO is open. The timestamp at the top shows our last update — while live tracking is active that's twice every market day, and when it's paused the page says so. On the final subscription day, numbers spike in the last hours, so for a live intra-day figure close to the deadline, the BSE/NSE portals themselves are the source of truth.
How are IPO shares split between QIB, NII and retail?
For a standard book-built mainboard IPO (SEBI Reg 6(1)): up to 50% goes to QIBs, at least 15% to NIIs and at least 35% to retail. Companies that don't meet the profitability track-record use the QIB route (Reg 6(2)): 75% QIB, 15% NII and only 10% retail — one reason some big-name IPOs feel impossible to get. Within NII, one-third is reserved for small NIIs (₹2–10 lakh applications) and two-thirds for big NIIs (above ₹10 lakh).