Applicants / Rights Entitlement Holders can apply for any number of additional shares but the allotment of the same will depend on shares available for apportionment and will also be in proportion to your holding, irrespective of additional shares applied by applicants.
You will receive full shares against the quantity of Rights Entitlement held.
However, if you apply for a higher number of shares than the rights entitlement, the excess quantity may be partially allocated based on a proportion of your existing holdings. The RTA can consider you for additional allotment depending upon the issue subscription. The amount you’ve paid is kept in an escrow account maintained by RTA and will be refunded if the allotment is not made.
To know more about Rights Issue, get the SEBI FAQs here, NSE FAQs here and BSE FAQs here.