For retail bids, the maximum permissible bid value is Rs. 2 lacs. The maximum quantity allowed is determined by the maximum allowable value as well as the retail cut-off price.

Maximum quantity of bids allowed = Rs. 2 lacs / cut-off price

For example, if an OFS's cut-off price is Rs. 111, the maximum bid quantity allowed is 2,00,000/111 = 1801.

On our bulletin page, you can look up the details of an OFS, including the maximum permissible bid quantity. After the cut-off price is decided on the first day of bidding, the maximum authorised bid quantity' is updated. The cut-off price is labelled 'Yet to be set' until then.
Over the course of two days, orders for an Offer For Sale (OFS) issuance are collected.

The first day is set aside for orders from institutions and high-net-worth individuals (bids above Rs. 2 lacs). On the second day of the issue, all retail bids are placed. A cut-off price for the second day is calculated based on the bids received on the first day of the issue.

For retail bids, the new cut-off price becomes the floor price. Only retail bids that are at or above the cut-off price are accepted.