Have you applied for IPO and share are not allotted to you? Now you would like to know when will you get your IPO refund? Then in this post I will show you a simple way to know IPO refund procedure.
Once Initial Public Offering (IPO) result is declared, all the applicants who got allotment receive the share in their demat account on the date of listing. And the rest, who unfortunately didn’t get the allotment, receive their IPO refund on/before the end date of mandate.
Blocked IPO amount will be unlocked once the shares are allotted and listed on exchanges. Generally, applicants receive the refund on or before the end date of mandate.
Mandate will be revoked automatically; you don’t need to follow any IPO refund procedure.
All you need to know is when is the end date of your IPO application mandate. Next, I will help you know the end date of your mandate.
That is very simple. Just read the instructions or watch the embedded video to know when will you get your IPO refund.
IPO Refund Procedure
Watch this video to know IPO refund procedure. I have discussed a very simple way to know when will you get your Initial Public Offering application refund. If you prefer reading then continue reading to know the same.
- Login to your UPI app from which you have approved the IPO mandate.
- Tap on IPO or go to mandate section.
- Touch Active tab.
- There you will be able to see your approved mandates along with the date on which you have approved them and also you will see Valid Till date.
- Valid Till Date is the last date of your IPO refund. You will receive your IPO application refund on or before that date.
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How do I get my money back from an IPO?
As discussed, you will receive your money back from IPO on or before the end date of mandate. IPO amount remains blocked till the IPO allotment is finalized. Once the allotment is confirmed, IPO refund process will be initiated for the applicants who didn’t receive the shares.
You cannot do anything from your part to expediate the process before the mandate date.
How do I know if my IPO is successful?
You will receive a confirmation email from the company. Also, you can login to your trading account and in IPO section, you can know the IPO status.
What happens if IPO is not allocated?
In case IPO is not allotted to you, your blocked funds will be released on or before the end date of mandate.
What if refund is not received after the mandate date?
In that case, you will be required to contact your stock broker. He will guide you in the next steps to get your money back to your bank account.
At the same time, you should know that your money was always there, it was just blocked for the IPO application. It will be debited only if you will get the shares in your demat account.