Usually means: Option to buy additional shares.
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We found 8 dictionaries that define the word overallotment:

General (4 matching dictionaries)
  1. overallotment: Longman Dictionary of Contemporary English
  2. overallotment: Wordnik
  3. overallotment: Wiktionary
  4. overallotment: Dictionary.com

Business (4 matching dictionaries)
  1. MoneyGlossary.com (No longer online)
  2. INVESTORWORDS (No longer online)
  3. Overallotment: bizterms.net
  4. Overallotment: Investopedia

Definitions from Wiktionary (overallotment)

noun:  An excessively large allotment or portion.
noun:  (finance) A greenshoe option.

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