Speciality Medicines SME IPO Subscription Status

A subscription of 2.33x means the IPO received bids for 2 times the number of shares available. For every 2 applications, only 1 can receive an allotment.

Here is what each category number tells you:

QIB at 96.24x: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 96.24x, it reflects serious institutional conviction.

NII at 2.01x: NII includes high net worth individuals applying above Rs 2 lakh. At 2.01x, allotment probability for NII applicants is very low. The bNII segment came in at 2.70x and sNII at 0.64x.

Retail at 0.85x: Retail investors applying up to Rs 2 lakh saw 0.85x subscription. Allotment in the retail category is done by lottery when oversubscription exceeds 1x. At 0.85x, the probability of allotment for a single retail application is roughly 1 in 1.

Based on the final subscription data, here is a realistic view of allotment probability by category.

Retail Category: Retail subscription came in at 0.85x based on shares applied and 0.85x based on applications. In the retail category, SEBI mandates a minimum of one lot per applicant when possible. Allotment is done by lottery. Applying from multiple accounts does not improve individual chances but increases household probability if each account is eligible.

NII Category: NII allotment is proportional, not by lottery. At 2.01x, an NII applicant applying for the minimum NII lot can expect a very small proportional allotment. Larger NII applications receive proportionally more shares but the effective return per rupee invested is diluted significantly at this oversubscription level.

QIB Category: QIB allotment is discretionary and handled by the book running lead managers. Retail investors do not participate in this category.

Check the Speciality Medicines SME IPO Allotment Status page from 25 March 2026 for your allotment result.

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For allotment results from 25 March 2026, visit the Speciality Medicines SME IPO Allotment Status page. For listing day updates on 30 March 2026, download the IPOwiz App.