@JOYS Sir for an Oversubscribed SME IPO, allottee will get only one lot irrespective of application - retail or HNI category.
Why we apply is HNI category?
For SME IPO, Allotment is given on Proportionate lottery bases, so more the lots you apply better are the allotment chances.
Refer below thread to understand SME IPO Allotment Process. https://www.chittorgarh.com/ipo/ipo_discussions.asp?a=1574&c=694065&ap=0
Note: If HNI Subscription is 100x and you apply with 200 lot single application you can be allotted 2 lots.
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