I have modified my IPO bid on Console, but the blocked amount in my bank account has not changed. Why is this?
If you modify your bid on Console, you need to accept the latest mandate for the blocked amount to be changed in your bank account.
The earlier amount payable was ₹ 29,124/- and after modifying the bid, the amount payable changes to ₹ 58,248/-.
Click on Authorize on your UPI app for the blocked amount to be updated in your bank account.
The old mandate gets invalidated and the amount is blocked as per the new mandate. So as per the above example, once the new mandate is authorised, the total blocked amount will change to ₹ 58,248/- provided you have a sufficient balance in your bank account.
The blocked amount will remain unchanged if you do not accept the new mandate.
You can confirm your application or mandate status with the application number on the NSE website one day after your bidding date.