IPO Application Cancellation Process, Charges, Rules - Explained

An IPO application can be cancelled online by a retail investor while the IPO is open for subscription.

You can cancel ASBA as well as UPI- supported IPO applications.

Steps to Cancel IPO Application

1. Visit the website or app from where you applied for IPO.
2. Go to the IPO section.
3. Select the applied IPO for cancellation.
4. Click on the Withdraw/Delete/Cancel Application button once available.
5. Revoke UPI mandate in case of UPI route.

You will get a cancellation confirmation for the request initiated.

Note:

• Some banks or brokers may restrict IPO cancellation until 2 PM on the issue closing day.
• Application in QIB and NII category cannot be withdrawn.

A Zerodha customer can delete the IPO bid in Zerodha at any time from 12 PM to 4:30 PM while the issue is open for subscription. Read Zerodha IPO review for more details.

Steps to delete IPO bid in Zerodha

1. Login to Zerodha Console (back-office)
2. Go to Portfolio > IPOs
3. Go to the 'History' section at bottom of the page.
4. Choose your IPO application
5. Cancel a bid or delete the entire application as desired.

Yes, retail investors applying in the retail IPO category (< Rs 2 Lakh) can revise their Bids or withdraw their bids until the Offer Closing Date.

You cannot withdraw, cancel or lower your bid if you belong to the NII or QIB category of investors.

You could delete your IPO application at any time during the bidding period. The IPO application cannot be deleted after that.

Note: If you do not see the delete option, wait until the broker submits your IPO application to the exchange between 10 AM to 5 PM on the day when the issue is open.

Steps to delete IPO Application

1. Login to the broker or bank website.
2. Go to the IPO section.
3. Visit IPO Order Book and find the order.
4. Click on the IPO application ID.
5. Click on the 'Withdraw/Cancel/Delete IPO Application' button.

Note:

• QIB and NII IPO Applications cannot be deleted.
• The Delete button will appear only once the IPO application request is submitted by the broker to the Exchange.
• Some banks may not allow you to delete the order after 2 PM or 3 PM on the last day of the issue.

You can cancel the ASBA IPO application through your Bank's Net banking website at any time till the closure of the Bidding Period. The IPO bidding closes at 5 PM on the issue closing day. Note that some banks may not allow you to cancel or modify the IPO bid after 2 PM or 3 PM on IPO closing day.

The IPO application can be cancelled online by submitting a cancellation request. Requests made between 10 AM to 5 PM get canceled in real-time. The requests placed outside the bidding hours get sent to the Exchange by the broker by 10 AM when the Exchange starts accepting bids.

Steps to Cancel ASBA IPO Application

1. Login to the Net banking website or app of your bank.
2. Go to the 'Online IPO' section
3. Go to the 'Order Book' page
4. Click on the 'Transaction ID' link for IPO you would like to Cancel.
5. Click on the 'Withdraw' application button.
6. Confirm your transaction.

Note:

• Broker or bank sends your cancellation request to the Exchange.
• You get an email once the cancellation request gets accepted by the Exchange.
• ASBA blocked funds for deleted IPO applications generally get unblocked with a day or two.
• IPO applications cannot be canceled after the bidding period.
• NII investors cannot withdraw the Bid. They can only modify it.

You can delete the IPO mandate by canceling or withdrawing the IPO application. The UPI mandate for blocked funds generally gets removed after 24 hours of cancellation at the exchange's IPO bidding platform.

You can cancel the IPO application until 5 PM on the Offer Closing Date. Some banks offer this facility until 2 PM/ 3 PM. Once you submit the withdrawal request with the broker or bank, the request gets sent to the exchange for cancellation during the IPO bidding window.

A retail investor (RII category) can withdraw an IPO application anytime while the IPO is open for subscription. The IPO bidding closes at 5 PM on the issue closing date.

Steps to withdraw IPO application

1. Visit the website or app from where you applied for IPO shares.
2. Go IPO Order Book in IPO section.
3. Find the 'withdrawal' option in front of your IPO application.
4. If this option is not available, wait until the next day at 10 AM when the broker submits the bid to exchange and get confirmation.
5. Submit a request to withdraw the IPO application.
6. Get a confirmation message about your request.

Note that the above steps may slightly vary from broker to broker and bank to bank.

Yes, a retail investor can withdraw an IPO application any time while the IPO is open for subscription. You cannot modify or cancel the IPO bids once the IPO gets closed. The investors in NII and QIB category cannot cancel or withdraw their IPO bids.

To withdraw the IPO application, you can visit the broker/bank's website or app from where you applied in the IPO. Visit the IPO section and request for cancellation.

You can cancel your IPO application in 5paisa by submitting an online cancellation request through the IPO section of 5paisa.com. Note that you could modify/cancel IPO only when the IPO is still open for subscription.

Steps to cancel IPO application in 5paisa

1. Go to the 5paisa.com website or log in to 5paisa mobile app.
2. Visit the IPO section.
3. Click on Reports.
4. Choose the IPO application you would like to cancel.
5. Cancel or modify the bid.

NII bidders apply on the last day of IPO mainly on account of two reasons:

• NII bidders generally use IPO Fundingto invest in IPO. Thus, applying on the last day of the issue helps them save on the interest cost.
• Secondly, NII investors cannot withdraw or lower the size of their bid in terms of quantity of Equity Shares or the Bid Amount at any stage. Thus, they apply at the end when they have a fair idea of the IPO oversubscription figures.

You can cancel the IPO application online through HDFC Bank Net banking anytime while the issue is open for subscription till 2 PM on the issue closure date.

Steps to cancel IPO application HDFC Bank:

1. Login to HDFC Net banking.
2. Go to the IPO section.
3. Choose the IPO application you would like to cancel/
4. Place the cancellation request.

The money in your bank account gets unblocked within a day or two on successful processing of the cancellation request.

You can cancel IPO in Upstox online anytime during the issue period through the Upstox website or mobile app

Steps to cancel IPO in Upstox:

1. Log in to the Upstox website or mobile app.
2. Go to the IPO section of the Discover tab.
3. Click on My IPOs >> View More
4. Click on Delete application.
5. Click on Delete to confirm the cancellation request.
6. Reject the mandate.

Click here to check the screenshots.

An IPO bid can be cancelled online via the bank or broker through whom the IPO is applied.

Steps to cancel IPO bid:

• Login to the bank or bank website or app.
• Look for the IPO section,
• Select the IPO for cancellation.
• Place the cancellation request.

You can also approach the bank or broker and place a written request by quoting your IPO application number if you face any issues to cancel online.

Points to Note:

• Only retail investors can cancel the bid.
• NII and QII cannot withdraw or cancel their bids.
• The cancellation process may vary slightly from bank to bank and broker to broker. Check with your bank/broker for the timings.
• The cancellation placement time on the last day may also be different for each bank and broker. Check with your bank/broker for the timings.

Yes, you can cancel your IPO application through your bank or broker from where you had applied for an IPO if you are a retail investor.

The investors in NII or QIB category cannot cancel their bids.

The IPO cancellation request can be placed anytime from the issue open date till the issue closure date. However, the timings on the last day of the issue may vary for each bank (2 PM/3 PM)and a broker.

Yes, technically, you can cancel the IPO application and reapply. However, since the modification option is available, not sure if the cancellation and reapplication would get accepted. Moreover, the funds would get blocked twice as sometimes the banks take time to release/unblock the funds from the earlier cancellation.

Thus, it is advisable to modify a bid rather than cancel and reapply.

Yes, a retail investor can cancel an IPO bid in Zerodha through Zerodha Console. You can place the IPO cancellation request in Zerodha between 12 PM to 4.30 PM while the issue is open for subscription.

Steps to cancel IPO bid in Zerodha:

1. Log in to Console.
2. Go to the IPO section under the Portfolio tab.
3. Click on Modify Bid for the desired applied IPO under the Ongoing IPO section.
4. Click on Delete to delete a bid or Delete Order to delete the entire application.

No, you cannot cancel an IPO application after allotment.

A retail investor can cancel an IPO application only during the IPO bidding period. You can cancel anytime from the day when the issue opens at 10 AM till 2 PM/3 PM on the issue closure date.

Yes, a retail investor can cancel the IPO application before allotment by writing directly to the Registrar.

The IPO application cancellation window through your broker or bank closes once the issue subscription window gets closed. However, if you wish to cancel your IPO bid post the issue closure date, you need to submit a written request to the Registrar via email along with your application details. The Registrar can consider the cancellation request provided the request is received before the finalization of the allotment.