It is by random chance. So doesn’t matter how much you put in.

But remember if the IPO falls on first day, you’ll end up lose more money.

My own real life example:
I bought senheng IPO for 1.07. On day one it fell down to 90 cents. I stop loss at 88 cents. Today the price is 85 cents and going lower. So yea lost a few hundred bucks with 2k investment. If I put in 10k, losses will be even more.

Exact losses for my senheng: 2000 units x 1.07 = RM2140
On day I sell coz I saw price keep drop: 2000 units x 0.88 =  RM1760
Loss of RM380

No one can tell exactly how the market will respond once stock is listed on first day. If you can take the risk then go ahead. IPO is like gambling. I’d rather wait for price to stable first (after listed) before going in. IPO can either drop a lot, or go up a lot on first week itself after listing.