Can I withdraw IPO application?

Yes, you can withdraw an IPO application if you are a retail investor or employee/shareholder with an investment worth Rs 2 lakhs.

You can withdraw your bid online or offline depending on the mode you have chosen while applying for an IPO. Cancellation/withdrawal of bid can be done at any time as long as the IPO window is open from 10 am on the day of the opening of the issue to 5 pm on the day of closing of the issue. Cancellation requests submitted after 5 p.m. (except on the last day) will be processed the next day. Some brokers, such as Zerodha, have a specific window for cancellation requests (until 4:30 p.m.). On the last day, usually, no broker or bank allows cancellations to be placed until the cut off time of 5 pm. Therefore, check with your broker/bank for exact timelines.

QIBs and NIIs cannot withdraw the IPO application.