The JustDial IPO has been fully subscribed with bids for more than 12 times the amount at hand.
While institutions bid for more than 10 times their allocation, retail investors who pitched for less than 200K worth have bid for 3.3x their quota. For retail the rule is that every single investor gets at least one lot, so if you applied you should be able to get 25 shares.
The surprise was that HNIs bit this up 22x. They don’t have a safety net, so why do they care? Apparently, they do!
Bids seem to now be concentrated at the higher end of the band.
Now to see what happens on listing.
Disclosure: I’ve bought a bit in the IPO, so I’m biased.