IPO subscription data shows how many times the shares on offer in an IPO have been bid for, category-wise — a figure like "3.2x subscribed" means the bids received in that category are 3.2 times the shares available in it. On Rupeezy, you can see it category-wise on the IPO's details page in the app, and it updates through the bidding window.
What does a subscription number mean?
Every IPO reserves a portion of its shares for each investor category — Retail (the Individual category on Rupeezy), HNI/NII (Non-Institutional Investors) and QIB (Qualified Institutional Buyers), plus Employee or Shareholder portions where an issue has them — and each category is subscribed separately. "2x subscribed" in the Retail category means Retail investors have bid for twice as many shares as are reserved for Retail. A category can be undersubscribed (below 1x) while another is oversubscribed at the same time, since each is measured against its own reserved quota, not the issue as a whole.
Where can I check IPO subscription data?
In the Rupeezy app. Open the IPO from the IPOs section to go to its details page, which shows the subscription figures category by category. The numbers keep moving through each day of the bidding window, right up to its close.
On the exchange websites. NSE and BSE also publish category-wise subscription figures for every open IPO. Since bids can be placed through either exchange, the figures reflect the combined demand across both.
Does checking subscription data affect my allotment?
No — subscription data only tells you demand at that point in time; it isn't a factor in how shares are allotted. If you'd rather not track it yourself, Rupeezy's Pre-Apply lets you set a Subscription Based Trigger so your application is placed automatically once a subscription multiple you choose is reached — see How do I pre-apply for an IPO?. And once an IPO is oversubscribed, Individual applications are allotted by lottery — checking the subscription number won't change your odds; see Can I improve my IPO allotment chances? for what does, and How does the allotment process work if the IPO is oversubscribed? for the other categories.
Things to keep in mind
- Subscription figures are provisional until the bidding window closes — a category showing under 1x mid-way can still close oversubscribed on the last day.
- Figures are reported per category, not as one number for the whole issue — check the category you actually applied under.