Do these 3 things before closing this tab:
1Fix the driver behind crashes, sound loss and screen glitches2Repair Windows errors before they cause bigger problems3Scan for outdated or missing drivers - takes under a minuteIf your IPO application was rejected, first check whether it was actually invalid or whether it was valid but received no shares. Then verify the bid and any UPI mandate, check whether funds were blocked or released, and contact the bank, registrar or intermediary named for that IPO. In an ASBA application, no allotment does not by itself mean a refund is due: the application money is blocked, not debited, and should become available again through the issue’s process.
First distinguish rejection from non-allotment
A valid application can receive no shares, particularly when demand exceeds the shares available. That is different from an application marked rejected or not considered. Check the registrar’s IPO status channel and the application record held by your broker or bank. Match the result to your application number and PAN; do not assume the reason for non-allotment is a processing failure.
- No allotment: The bid may have been valid, but no shares were allotted. For ASBA, the amount is blocked until the allotment process and is not debited if you receive no shares. SEBI says a refund is not required in a non-allotment case. SEBI’s ASBA guidance.
- Rejected or not considered: The bid may have failed a validity or processing check. Ask the registrar or the intermediary that handled the application to identify the recorded reason.
Check the application and UPI mandate
If you applied through UPI, confirm that the mandate request arrived, was accepted within the IPO’s deadline, and resulted in a successful block of the required funds. SEBI describes the process as submitting the bid with a UPI ID and authorizing the block request; after allocation, the amount due is debited and any excess is unblocked. SEBI’s UPI IPO guidance.
- Was the mandate accepted before the deadline stated for that issue?
- Does your bank confirm the funds were blocked, and was there enough available balance?
- Was the application made using the applicant’s own UPI ID and bank account? SEBI says third-party UPI IDs or bank accounts are not considered for allocation.
- Do the PAN, DP ID and Client ID on the application match the depository record?
- Was the bid uploaded within the issue’s application window?
These checks are useful questions, not a universal list of rejection rules. An offer-document excerpt hosted by SEBI identifies late or failed UPI mandate approval, insufficient funds or missing SCSB block confirmation, missing or mismatched depository details, and late or absent exchange upload as possible rejection grounds. The applicable terms and processing details can vary by issue. SEBI public-issue filings.
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Find out what happened to the blocked money
With ASBA, the application amount remains in your bank account but is blocked while the application is processed. If shares are allotted, the amount payable is debited; if you receive no shares, it is not a refund that must be sent to you. For a partial allotment or excess block, the remaining amount is to be unblocked under the applicable process. SEBI’s ASBA guidance.
If the money is still unavailable, ask the bank or SCSB—or the intermediary through which you applied—to check the block status and the relevant issue timeline. For a UPI application, provide the mandate details as well as the application number. There is no single release date established here for every IPO, so check the specific issue’s schedule and current bank or registrar status rather than relying on a generic date.
Contact the party responsible for your application
Use the grievance contact and procedure in the specific IPO’s offer documents or registrar notice. The right first contact depends on how you applied and what has gone wrong:
| Problem to check | First contact |
|---|---|
| UPI mandate was not received, accepted or blocked | Your bank or the intermediary that handled the UPI application; check the issue’s grievance instructions. |
| Application status, rejection reason or allotment record is unclear | The IPO registrar or the issue contact specified in the offer documents. |
| Bid submission or upload appears incomplete | The broker or other intermediary that accepted the bid, followed by the issue contact if needed. |
| ASBA block remains in place or the amount due appears incorrect | The bank/SCSB or application intermediary, with the registrar’s issue-specific contact where the allotment record is involved. |
Follow the contact route in the offer itself; issue documents can specify which party handles each type of complaint. Be ready to provide the application number, PAN, DP and Client ID, and relevant ASBA account or UPI ID, as requested. SEBI-hosted offer-document material.
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Escalate an unresolved complaint through SCORES
SEBI advises investors to approach the concerned company or intermediary first. If the response does not resolve the complaint, lodge it through SCORES, SEBI’s complaint redressal system. The entity is required to file an Action Taken Report within 30 days of receiving the complaint. SEBI investor guidance on complaints.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Keep a record of the application and complaint
Save the application confirmation, mandate notification and status, bank record showing the block or release, allotment or rejection status, and copies of messages to the bank, broker, registrar or issuer. Use official contact details from the issue documents or intermediary, and include only the personal and application information needed to identify the bid.
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