How long does it take for IPO refund?

The initiation of IPO refund should be made within four business days of the closing date of the issue.

It is expected that the banks/SCSBs and the Registrar will work closely together to arrange for the refund or release of funds for the IPO promptly. However, sometimes there may be problems on the part of the bank or registrar, which may delay the process and make the refund take longer than the specified deadlines.

In the case of an IPO UPI refund, the mandate may be revoked on the mandate expiration date, which may be after the IPO refund initiation date. Therefore, in case of delays, first, contact your bank and then the Registrar to know the exact status of the IPO refund.