Retail investors flocked to share sales, but many were left disappointed as they failed to get any share allocation in heavily subscribed IPOs. There are three broad categories of IPO investors—qualified institutional buyers (QIBs) or simply institutional investors, non-institutional buyers who are largely high net-worth individuals (HNIs) and retail investors. Shares can only be bid for in lot sizes, which are mandatorily fixed between ₹10,000 and ₹15,000 and retail investors can bid for shares only up to ₹2 lakh in any IPO. Let’s say there are 1 million shares on offer with a minimum lot size of 100 shares. Anchor investors are institutional investors or QIBs.

Source: Mint July 14, 2021 17:48 UTC