You cannot withdraw that amount. This amount will be locked till the allotment is finalized for an IPO. In case, you are applying offline through a cheque then the refund process starts after the finalization of basis of allotment. There are no charges and the full refund is done.
What happens if I did not receive my IPO refund?
If someone is not received IPO refund, there are few easy step which one can follow to get IPO refund. 1. Visit Registrar’s local office or call your nearest branch to file a written complain. Make sure that you have a written application ready with all the detail before contacting Registrar’s office.
What is the timeframe for getting refund if shares not allotted?
Mumbai: Sebi says refund of IPO application money in case of partial or non-allotment of shares in an offer should be completed in four days. Currently, Sebi allows up to 15 days to merchant bankers to complete this process.
How do I complain about an IPO refund?
Investor Complaints Cell
- Complaint Registration.
- 1800 266 7575.
What happens if IPO is not allotted?
In case shares are not allotted/ partially allotted, the amount paid would be refunded. The amount is deducted only when the shares get allotted. Only the amount for which the shares have been allotted would be deducted from the bank and not the total value of shares which were applied for in the IPO.
How much time does it take for IPO refund?
It usually takes 3 to 10 days to get IPO refunds after IPO allotments are done by the registrar of the IPO.
Is there a refund process for an IPO?
In case, you are applying offline through a cheque then the refund process starts after the finalization of basis of allotment. There are no charges and the full refund is done. The timeline for finalization of basis of allotment, initiation of refunds etc., is available in our website along with other details of IPO.
What happens if I apply for an IPO online?
When you apply for an IPO online, the application amount is blocked in your account. You cannot withdraw that amount. This amount will be locked till the allotment is finalized for an IPO. In case, you are applying offline through a cheque then the refund process starts after the finalization of basis of allotment.
Can you withdraw money from an IPO account?
There are no charges for the refund of the money. When you apply for an IPO online, the application amount is blocked in your account. You cannot withdraw that amount. This amount will be locked till the allotment is finalized for an IPO.
What happens if you are not allotted a share in an IPO?
The amount blocked in the bank account cannot be used for other purpose which means you can’t withdraw. The money is safe in your account. If you are not allotted with the share, the amount for which you have applied for the IPO will be unblocked and can be withdraw by you.
