What is the procedure to withdraw from an IPO?

Investors can withdraw the IPO bid at any time as long as the IPO issue is open for subscription.

Withdrawal/cancellation of IPO bids can be done either online or offline. To cancel the bid offline, investors should submit a duly signed cancellation letter along with their application and bid details to the intermediary where the original application was submitted.

Steps to withdraw from an IPO online:

1. Login to the broker/bank platform from where the IPO application was made.
2. Go to the IPO section.
3. Select the IPO.
4. Click on cancel or withdraw.

The blocked money will be released in a day or two or on expiry of UPI mandate based on the bank policy.

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