If the IPO is not allotted to me, when can I expect to receive the refund?

If the IPO is not allotted to me, when can I expect to receive the refund?

·        Funds are unblocked after shares are allotted in an IPO.

·        The mandate for IPO applications is typically revoked after allotment.

·        Upon revocation of the mandate, the blocked funds will be released to your bank account.

Note: Some banks may wait until the end date of the mandate to complete the revocation process. You can check the end date of the mandate on your UPI app for more information. If you did not receive an allotment of shares, you can request your bank to release funds post-allotment. Funds are usually automatically unblocked once the mandate is revoked after IPO allotment.