Calculate IPO investment per lot, minimum investment for one lot and maximum retail lots allowed within the ₹2 lakh retail limit for any Indian IPO.
Investment per lot = issue price × lot sizeMaximum retail lots = floor(₹2,00,000 ÷ investment per lot)Maximum investment = investment per lot × maximum lotsEvery minimum investment in IPO search ends at the lot size: shares sell in fixed bundles, and one lot is the smallest bid you can place. The company fixes it in the RHP with SEBI's floor that a retail application must be at least 10,000 rupees, so dividing 2 lakh by the per-lot cost gives your maximum retail lots.
SME IPOs play by tougher numbers, with minimum application value of 1,00,000 rupees, which is why SME lots feel expensive next to mainboard ones. Within the 2 lakh retail cap you may bid multiple lots in one application, though in oversubscribed issues retail still gets at most one lot by lottery.
Planning family applications? Pair this with the Multi-PAN Optimizer to split lots across PANs, and check the HNI funding calculator if your bid crosses into the 2 to 10 lakh sNII zone.
Retail investors can bid for a maximum of ₹2,00,000 per application in most mainboard IPOs.
Yes, within the ₹2 lakh retail cap you may bid for multiple lots in a single application.
The company fixes the lot size in consultation with merchant bankers and discloses it in the RHP. SEBI requires the minimum retail application to be at least ₹10,000.
Yes. SME IPOs have a minimum application value of ₹1,00,000, so their lots cost far more than mainboard retail lots.
No. Lot size is fixed in the RHP for the whole issue. Only the price band discovery moves; the lot you bid is the lot you get.
HNI/NII bids of ₹2–10 lakh fall in the small-NII (sNII) bucket with one-third reservation, while bids above ₹10 lakh fall in big-NII (bNII) with two-thirds reservation.
Last updated: 14 Oct 2026, 01:28 IST