When will my funds be unblocked if I do not receive allotment for an IPO?
If you don't receive an allotment on your application, the mandate will be revoked after the allotment process and the funds will be unblocked in your bank account. In general, funds are unblocked within 1-6 working days of the IPO closure.
In some cases the amount will be blocked till the end of the mandate period. If so, you can raise a request with your bank/UPI app to release the funds after the allotment date.
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