In Jio Platforms IPO, retail investors have a much greater chance of obtaining shares than what is indicated by the apparent subscription multiple of 22.19 times.

The report indicates that the majority of demand comes from institutional investors, and the fact that institutional investors place orders at 70.55 times the offering price will not affect the retail allocation pool. Whether retail investors will be allocated shares depends on the number of applicants, rather than the number of shares they order.

Each winner will be allocated one lot through a computerized lottery, which is equivalent to 12 shares. Calculated at Rs. 1119 per share, one lot is worth Rs. 13,428.

The retail allocation portion is approximately 850 million shares, which is equivalent to about 70.86 million lots. If the number of retail applications is around 101 million, then about 70 out of every 100 applicants should be able to obtain one lot of the allocation.

The report also states that subscribing for additional lots does not increase the probability of winning a lottery ticket.

In addition, if one subscribes in a separate quota also as a shareholder of Xinshi Industry, the subscription multiple for that portion is 7.6 times. The relevant applicants will effectively have a second chance to be allocated shares, but this portion will be distributed proportionally.

Credit attribution:The above content is from the report on the distribution probabilities of CoinPedia versus Jio Platforms IPO.