Can we cancel IPO application?

Yes, retail investors can cancel the IPO. Apart from retail investors, employees or shareholders of the company investing up to Rs. 2 lakhs can also cancel their IPO applications.

IPO applications can be cancelled only during the offer period from 10:00 am to 5:00 pm. This may vary slightly depending on the broker or bank. The IPO application cancellation request submitted after the bidding window (5:00 pm to 10:00 am) will be processed by the Exchange at 10:00 am the next day.

Some brokers have a separate window for cancellation requests. On the last day, not all banks/brokers allow cancellation until 5:00 pm. Therefore, check with the broker/bank for specific deadlines.