Why has the blocked amount not changed when the IPO bid was modified?

The blocked amount will remain unchanged if the latest mandate is not accepted after modifying the bid. Once the bid is modified, a notification with the latest mandate request is sent to the UPI app. Click on Authorize to approve the mandate, and the funds will be blocked as per the modified bid. The UPI mandate can be accepted until 5 PM on the closing day of the IPO. The application or mandate status with the application number can be verified one day after the bidding date on nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp.

Example scenario

MR Z has ₹50,000 in his bank account. He applies for 2 lots of an IPO. The amount blocked was ₹30,000 (₹15,000 per lot). The IPO order was later modified to 3 lots. A new mandate for ₹45,000 is sent to the UPI app. Once accepted, only an additional ₹15,000 is blocked and not an additional ₹45,000.