It is wrong information for HNI allottment. I did not get any shares. Maybe it goes as per lot (not shares). If the subscription is 100 times, and I apply for 100 lots (not shares), then I get 1 lot. If I apply for 99 lots or less, I get nothing.
I have also experienced the same thing. I had applied for 624 shares (48 lots) in NII category of an IPO. The oversubsciption was 512 times but I didn't get any share. If there should be proportional allotment I must get allotment of share. But it didn't happen.
If issue is over subscribed than it doesn't matter how many lits you apply. Allotment will be by Draw and all applications will be counted as 1 irrespective of lots applied. So follow this point. Days of proprtionate allotment gone