When IPO blocked amount refund?

The amount blocked for IPO application gets released within four business days of IPO closure.

The applicant continues to earn interest on the blocked amount however cannot use it. Once the amount gets unblocked, the applicant is free to use the money for any purpose.

The extent of unblocking depends on the allocation status. In case of partial allotment, only partial amount gets released and the rest gets debited. In case of no allotment or IPO cancellation either by applicant or issuer, the entire amount gets released.

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