Glossary

Registrar to the Issue

The Registrar to the Issue is the SEBI-registered entity a company hires to process every IPO application, verify PAN and bank details, and run the allotment draw once the issue closes.

What It Means

The Registrar to the Issue is the SEBI-registered entity a company appoints to run the operational side of an IPO: collecting every application, verifying the investor details on it, and deciding who actually gets shares. Names like KFin Technologies and Link Intime handle this role for most Indian IPOs.

How It Works

Once an IPO closes, the registrar checks every application against a few things before allotment is even considered: does the PAN match a KYC-verified identity, does the bank account and UPI mandate genuinely belong to the applicant, and is this PAN showing up more than once. Anything that fails those checks gets thrown out immediately as a technical rejection. Whatever's left is either allotted in full, if the issue wasn't oversubscribed, or run through a Draw of Lots if it was.

Registrar to the Issue: What They Do in an IPO | TraderStack