Question 1

How can I cancel my IPO application online?

Accepted Answer

Investors can cancel IPO applications both online and offline. The online cancellation process is generally much easier.

Here are the steps to cancel an IPO application online:
• Log into your online broker or bank software.

• Navigate to the IPO section from the menu.

• Select the specific IPO application you wish to cancel.

• Choose the IPO cancellation option and submit your request.

• Any blocked funds will be released upon finalization of allotment or cancellation, based on your bank's policy.

Note: The option to cancel, withdraw, or delete an IPO will only be available once your bid has been successfully submitted to the exchange.

To cancel an IPO application offline, investors must complete a revision form or send a cancellation letter to the intermediary through whom the application was submitted, making sure to include their application number.

Here are the steps to cancel an IPO application offline:

• Download the IPO modification/revision form from the NSE/BSE website or get it from your nearest broker or Self-Certified Syndicate Bank (SCSB). (Often, the revision form is provided with the original bid form).

• Enter the applicant's name, contact information, and PAN.

• Write "CANCELLED" under the revised bid details section.

• Fill out the acknowledgement slip.

• Submit the revised application form.

Question 2

Can I cancel my IPO application after the closing date?

Accepted Answer

No, investors cannot cancel an IPO application after the closing date.

Cancellation of IPO bids is only possible during the IPO bidding window. This applies to retail investors in mainboard IPOs (for investments up to ₹2 lakhs), individual investors in SME IPOs (for a minimum of 2 lots), and employees and shareholders within their eligible investment limits. Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) cannot cancel their bids once they are placed or submitted.

In some SME IPOs, cancellation might be restricted. Therefore, investors should always check the offer document (RHP) for specific rules.

Question 3

Can I modify my IPO application?

Accepted Answer

Yes, you can modify an IPO application at any time during the IPO subscription period.

Here are the modification rules for IPO applications:

**Mainboard IPOs:**
• **Retail Investors (up to ₹2 lakhs):** Can increase or decrease their bid size.

• **QIBs and NIIs:** Can only increase their bid size but cannot lower it.

• **Employees and Shareholders (up to ₹2 lakhs):** Can increase or decrease their bid size.

**SME IPOs:**

• **Individual Investors (minimum 2 lots):** May be allowed to revise bids. However, in some SME IPOs, they are treated like QIBs/NIIs, meaning only an upward revision of the bid size is permitted.

• **Employees and Shareholders (minimum 2 lots or as defined in RHP):** Can revise their bid size subject to their upper limits. The specific revision rules depend on the offer document.

• **QIBs and NIIs:** Similar to mainboard IPOs, only an upward revision of the bid size is allowed.

The IPO modification window on the last day generally closes between 2:00 p.m. and 3:00 p.m., depending on the broker or bank. Always check with your broker/bank and refer to the RHP for SME IPO-specific rules.

Question 4

How do I modify my IPO bid?

Accepted Answer

IPO bids can be modified either online or offline while the IPO is open for bidding.

Here are the steps to modify an IPO bid online:
• Log into your broker or bank software.

• Look for the IPO section.

• Select the IPO for which you want to make modifications.

• Make the necessary changes to your bid.

• Submit the updated application.

• Complete the payment using UPI/ASBA if an additional payment is required due to an increased bid.

Here are the steps to modify an IPO bid offline:

• Fill out the IPO revision form, which you can get or download. Include the following details:

• Name

• PAN

• Address

• Contact Details

• Email ID

• Enter your original/previous bid details.

• Enter your UPI ID or ASBA bank account number, as applicable.

• Sign the form and submit it to the intermediary through whom you submitted the original application.

Question 5

Can I cancel my IPO application and reapply?

Accepted Answer

Yes, you can cancel an IPO application and reapply if you are:
• A retail investor in mainboard IPOs (up to ₹2 lakhs) or an individual investor in SME IPOs (minimum 2 lots), or

• An employee, or

• A shareholder (within limits as per the RHP).

Before reapplying, make sure the cancelled status is reflected, as it can sometimes take a little time for the cancellation to process.

QIBs and NIIs cannot cancel their IPO bids once they have applied.

In some SME IPOs, cancellation by individual investors, employees, or shareholders may not be permitted, and only an upward revision is allowed. Always check the offer document (RHP) for specific rules.

Question 6

Can I withdraw my IPO application?

Accepted Answer

Yes, you can withdraw an IPO application if you are a retail investor in mainboard IPOs (up to ₹2 lakhs), an individual investor in SME IPOs (minimum 2 lots), or an employee/shareholder within the applicable limits (as defined in the RHP).

QIBs and NIIs cannot withdraw their IPO applications.

Question 7

Why was my IPO application rejected?

Accepted Answer

An IPO application can be rejected for various reasons, which can be technical or due to an error on the part of the intermediary or the investor.

Some common reasons for IPO application rejection include:
• Multiple applications submitted using the same PAN.

• Incorrect or missing details in the application form.

• A mismatch between the PAN name and the bank account name.

• An incorrect UPI ID.

• Incorrect bank details.

• Failure to approve the UPI mandate within the specified deadlines.

Question 8

Is it possible to cancel an IPO application?

Accepted Answer

Yes, it is possible to cancel an IPO application.

IPO applications submitted by retail investors in mainboard IPOs (up to ₹2 lakhs) or individual investors in SME IPOs (minimum 2 lots, subject to the specific RHP, as some SME IPOs may not allow cancellation), as well as employees/shareholders within the applicable limits, can be cancelled at any time during the subscription period.

For investors planning an IPO application cancellation, here are some critical points to be aware of:
• The IPO offering window of the stock exchange is typically open from 10 a.m. to 5 p.m. on working days.

• Not all banks allow investors to cancel or amend an IPO application until the cut-off time of 5 p.m. on the day the offering closes. Some may limit the time to 2 p.m. or 3 p.m.

• It can take up to 24 hours after the cancellation request for the blocked funds to be released.

• After the exchange successfully cancels the application, a retail investor can submit a new application for the IPO.

• QIBs and NIIs cannot cancel their IPO applications.

Question 9

Can I reapply for an IPO after cancellation?

Accepted Answer

Yes, you can reapply for an IPO after a cancellation.

Once the IPO application is cancelled by the stock exchange, the retail investor can submit a new application for the same IPO. It may take up to 24 hours after the cancellation request for the blocked funds to be released.

Question 10

What happens if I cancel my IPO application?

Accepted Answer

If you cancel your IPO application, your blocked funds will be released, and you may submit a new IPO request if you wish.

It usually takes up to 24 hours for the funds to be released, though the exact time can vary from bank to bank.

Only retail investors in mainboard IPOs, individual investors in SME IPOs, employees, and shareholders are allowed to cancel IPO applications. In some SME IPOs, cancellation may not be permitted, so always check the RHP for details.

Question 11

What is the procedure to withdraw from an IPO?

Accepted Answer

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

Withdrawal or 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.

Here are the steps to withdraw from an IPO online:
1. Log in to the broker/bank platform from where the IPO application was made.
2. Go to the IPO section.
3. Select the specific IPO.
4. Click on "Cancel" or "Withdraw."

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

Question 12

How do I cancel an IPO mandate in Google Pay?

Accepted Answer

A mandate request, once created, can be revoked until the IPO issue is closed.

Here are the steps to cancel an IPO mandate in Google Pay:
• Open the Google Pay application and click on the profile tab.

• Click on the "Autopay" option.

• Click on the "Pending" section, where you will see all pending mandates.

• Select the IPO pending mandate you wish to cancel.

• Click on "Decline" to cancel the mandate.

Question 13

How do I cancel an IPO mandate in PhonePe?

Accepted Answer

Investors can cancel an IPO mandate in Phone Pe either by clicking directly on the notification link or through the Phone Pe app.

Here are the steps to cancel an IPO mandate in Phone Pe:
• Open the Phone Pe App.

• Click on the "bell icon" or "mandate notification" icon located in the top right corner.

• The "Notifications" tab will open, showing all pending requests.

• Find the Autopay request for the IPO.

• Click on "Decline."

Question 14

How do I cancel an IPO mandate in the BHIM app?

Accepted Answer

The BHIM app has a dedicated section for IPOs, where all IPO mandates are listed under the "Pending" and "Active" tabs, depending on their status.

Here are the steps to cancel an IPO mandate in the BHIM App:
• Open the BHIM App.

• Click on the "IPO" option.

• Select the desired mandate to be cancelled under the "Pending" tab.

• Click on "Decline" to cancel the mandate.

Question 15

How do I cancel an IPO mandate in Paytm?

Accepted Answer

To cancel an IPO mandate in Paytm, follow these steps:
• Open the Paytm app.

• Click on the "Send Money to Bank A/C UPI" icon.

• Click on the settings icon located in the top right corner.

• Scroll down to "UPI Automatic Payments" and open it.

• Select the IPO UPI mandate from the list of pending mandates.

• Click on "Decline," and the IPO mandate will be cancelled.

Question 16

Can I cancel my IPO application and apply again?

Accepted Answer

Yes, you can cancel your IPO application and submit a fresh application if you are a retail investor in mainboard IPOs, an individual investor in SME IPOs, an employee, or a shareholder (always check the offer document for applicable rules).

You can cancel your IPO application at any time before the closing of the issue. Once the original application is successfully cancelled, you can reapply for the IPO.

QIBs and NIIs cannot cancel their IPO applications once they have applied.

Question 17

How do I cancel an IPO order?

Accepted Answer

Investors such as retail investors, employees, and shareholders can cancel their IPO order either by contacting the intermediary or online. For SME IPOs, always check the offer document (RHP) for applicable cancellation rules.

Here are the generic steps to cancel an IPO order online:
• Open your intermediary's application or website.

• Go to the IPO tab and click on "Applied IPOs."

• Click on "Cancel," "Delete," or "Withdraw" the application.

• Submit the request.

Question 18

How do I cancel a subscribed IPO?

Accepted Answer

An IPO bid can only be cancelled by retail or individual investors, employees, and shareholders. Cancellation is allowed only before the issue closes for subscription. Investors cannot cancel or withdraw their bid once the issue is closed for subscription.

An IPO bid can be cancelled only by investors with an investment amount of up to ₹2 lakhs.

The online procedure for cancelling an IPO is much more convenient than the offline procedure. To cancel an IPO bid online, investors just need to log into their broker/bank's app, go to the IPO section, and cancel the desired IPO transaction.

To cancel an IPO bid offline, contact the intermediary through which the original application was submitted.

Question 19

How do I delete an IPO application online?

Accepted Answer

An IPO application can be easily deleted online through your bank or broker.

Here are the steps to delete an IPO application:
• Log in to the bank/broker platform through which the original application was made.

• Go to the IPO section.

• Select and click on the desired IPO transaction.

• Click on "Delete," "Withdraw," or "Cancel."

• Submit the application.

If the original IPO application was made by submitting a physical form, investors need to contact the respective intermediary to cancel the application by submitting a properly signed cancellation letter.

Question 20

Can I withdraw my IPO application?

Accepted Answer

Yes, you can withdraw an IPO application if you are a retail investor, employee, or shareholder. For SME IPOs, check the offer document (RHP) as some issues may not allow withdrawal.

You can withdraw your IPO application before the issue closes for subscription.

Question 21

Can HNIs withdraw their IPO application?

Accepted Answer

No, High Net Worth Individuals (HNIs) are not allowed to withdraw, cancel, or delete their IPO application once it has been submitted.

HNIs may modify their IPO application to increase the bid size. However, HNIs cannot modify their application to decrease the bid quantity or price.

As per SEBI guidelines, only investors with an investment of up to ₹2 lakhs (mainboard) or individual investors applying for less than 3 lots in SME IPOs can cancel or amend their bids. HNIs are investors exceeding these thresholds and therefore cannot cancel their IPO application.

Question 22

Can I withdraw my IPO anytime?

Accepted Answer

You can withdraw IPO applications only while the IPO is open for subscription.

The IPO window is typically open from 10 a.m. on the issue opening date until 5 p.m. on the issue closing date. You may cancel your bids online at any time during this period once the "Cancel/Withdraw" option is visible to you. Issue cancellation requests submitted after 5 p.m. will be processed the next day. The "Cancel/Withdraw" option is visible only if the IPO application has been successfully submitted.

Question 23

Can I edit my IPO application?

Accepted Answer

Yes, you can edit your IPO application.

A retail investor in mainboard IPOs (up to ₹2 lakhs) or an individual investor, employee, or shareholder in SME IPOs (minimum 2 lots) may revise their bid. Since the minimum application size for SME IPOs is 2 lots, the quantity cannot be decreased. In some SME IPOs, even the price can only be revised upward, similar to QIBs and NIIs.

You can change your bids as per the above guidelines or any other details in your application as long as the issue is open for subscription. The time window for submitting bids is from 10:00 a.m. (opening of the issue) to 5:00 p.m. (closing of the issue). On the last day, applications for amendments are generally accepted only until 3:00 p.m.

You can process your IPO application online through your broker/bank's platform or submit the revised application form at the nearest bank or broker branch.

Question 24

How can I modify my IPO bid?

Accepted Answer

| IPO Investor Category | IPO Bid Modification Rule (Mainboard) | IPO Bid Modification Rule (SME) |
| --- | --- | --- |
| Retail Investor | Can increase or lower the bid size | Individual Investor (minimum 2 lots): Quantity cannot be decreased due to minimum lot size; price may be revised. In some SME IPOs, only upward revision of price is allowed. |
| QIB | Can only increase bid size | Can only increase bid size (same as mainboard) |
| NII | Can only increase bid size | Can only increase bid size (same as mainboard) |
| Employees | Can increase or lower the bid size | Can increase or lower bid size subject to upper limit and RHP; quantity cannot go below 2 lots; price revision may be restricted upward-only in some SME IPOs |
| Shareholders | Can increase or lower the bid size | Can increase or lower bid size subject to upper limit and RHP; quantity cannot go below 2 lots; price revision may be restricted upward-only in some SME IPOs |

Question 25

How do I modify my IPO application?

Accepted Answer

Submitted IPO applications can be modified online or offline during the IPO bidding window.

Here are the generic steps to modify an IPO application online:
• Visit your intermediary's application or website.

• Open the "Orders" or "IPO" tab.

• Select the IPO you wish to modify.

• Click on "Modify."

• Make the required changes.

• Click on "Modify/Submit."

Here are the steps to modify an IPO application offline:

• Fill in your personal details like Name, Address, Email, and Contact in the revised Bid-cum-application form, which you can get along with the original application form.

• Enter the revised bid details.

• Enter your bank account details or UPI ID.

• Sign the form and submit it to the nearest bank or broker branch.

Question 26

Can I cancel my IPO subscription?

Accepted Answer

Yes, you can cancel your IPO subscription if you are a retail investor in a mainboard IPO or an individual investor, employee, or shareholder in an SME IPO. However, some SME IPOs have restrictions on cancellation, so always check the offer documents carefully.

QIBs and NIIs are not allowed to cancel their IPO bids once placed. They can only modify them to increase the bid size.

Question 27

How do I withdraw my IPO application online?

Accepted Answer

An IPO application can be withdrawn by retail investors either online or offline.

To withdraw an IPO application online, simply log into your broker app or banking platform and cancel the originally submitted IPO application.

To withdraw an IPO application offline, contact the intermediary through which the application was submitted and request cancellation.

Investors can withdraw IPO applications at any time before the issue is closed for subscription.

Question 28

Can I cancel an SME IPO application?

Accepted Answer

Yes, individual investors, employees, and shareholders may be allowed to cancel their SME IPO application, subject to the specific rules outlined in the offer document (RHP).

Since the minimum application size for SME IPOs is typically 2 lots, the quantity cannot be reduced. Additionally, in some SME IPOs, even the price can only be revised upward.

IPO Investor Category	Mainboard IPO Bid Cancellation Rule	Mainboard IPO Bid Modification Rule	SME IPO Bid Update Rule
Retail/Individual Investors	Bid can be cancelled.	Bid size can be increased or decreased.	Minimum application is 2 lots. Note: In some SME IPOs, cancellation isn't allowed; only upward revision is permitted, subject to RHP.
QIB	Bid cannot be cancelled.	Can only increase the bid quantity or price but cannot lower it.	Same as mainboard – only upward revision permitted.
NII	Bid cannot be cancelled.	Can only increase the bid quantity or price but cannot lower it.	Same as mainboard – only upward revision permitted.
Employee	Bid can be cancelled if the bid size is below Rs 2 lakhs.	Bid size can be increased or decreased if the bid size is below Rs 2 lakhs.	Minimum application is 2 lots. Bid size can be revised up to the employee maximum lot limit, with rules subject to RHP.
Shareholders	Bid can be cancelled if the bid size is below Rs 2 lakhs.	Bid size can be increased or decreased if the bid size is below Rs 2 lakhs.	Minimum application is 2 lots. Bid size can be revised up to the shareholder maximum lot limit, with rules subject to RHP.

Modifying an IPO Application

Rules for IPO Application Cancellation/Modification by Issue Type

Mainboard IPOs

SME IPOs

Rules for IPO Application Cancellation/Modification by Investor Category

IPO Application Cancellation Process

Steps for Online Withdrawal of IPO Application

Steps for Offline IPO Order Cancellation

IPO Application Cancellation Time

Important Note:

IPO Withdrawal Time

IPO Application Modification Process

Steps to Modify IPO Bid Online

Steps to Modify IPO Bid Offline

IPO Modification Form

IPO Application Rejection Reasons

IPO Application Rejected But Amount Blocked

1. UPI Handle

2. DP ID

Frequently Asked Questions