Am I guaranteed an allocation in the IPO I subscribe for?

No, you are not guaranteed an allocation in the IPO you subscribe for. The process of allocating IPO shares is competitive and depends on factors such as the level of demand, the offering size, and the investor type.

When an IPO is oversubscribed, meaning the total number of shares requested by investors exceeds the number of shares available, the underwriters and the issuing company will determine how to allocate the shares among the interested parties. Typically, a significant portion of the shares is reserved for institutional investors such as mutual funds, pension funds, and hedge funds, due to their large investment capacity and long-term investment horizons.

Individual investors usually receive a smaller allocation of shares. In cases of high demand, retail investors may receive fewer shares than they requested or, in some instances, may not receive any allocation at all.

There are no guarantees of receiving a specific allocation in the IPO you subscribe for. It's essential to consider the risks and opportunities of investing in IPOs and diversify your investment portfolio.