Answer
Retail investors have a significant interest in Initial public offerings (IPOs), which leads to oversubscriptions. Thus, IPOs have risk of not getting an allotment. Each IPO has a predetermined allocation for various investor categories including retail investors who receive 35% of the total shares.
In such a case, an allotment is made through a lottery. This lottery selection is independent of the IPO application date or the number of lots applied.
Therefore, your application is valid, but your chances of success may vary from IPO to IPO. Keep applying for good IPOs and hope for the best.