Updated on March 16, 2023
When a company announces an IPO, they take many efforts to generate buzz around the same and attract maximum investors. But not every IPO announced sees the light of day. There are many that fail to attract enough investments and are thereby cancelled. Given below are further details of the same
What is the impact of cancellation?
Investors can cancel or modify their IPO application before the closing of the IPO offer. For this, they need to login to the broker account through which the application is placed. The next step is to select the IPO and the option to delete the IPO bid. Once this option is selected, the IPO bid will be cancelled. If the investor has paid through the UPI mandate, the funds blocked will be released within the time frame as per the guidelines of the bank.
Post closure of the IPO and before allotment also the retail investors have the option to cancel their bids by writing an application for the same to the registrar of the IPO. This is the only option available as the window available with the banks and the brokers are terminated post-closure of the IPO period. The investor needs to provide the application details to the Registrar and the cancellation request can be acceptyed provided it is received before the final allotment