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When are funds unblocked if the IPO was not allotted?

The funds are unblocked after the allotment of shares. However, certain banks will unblock the funds only after the mandate end date. To check the mandate end date, visit kite.zerodha.com/orders/ipo and click on the IPO.

Example Scenario

The allotment date for USA SEEDS Limited is 5th August. Banks unblock the funds on the refund initiation date, which is the 8th of August. If the bank has not unblocked the funds, it will be done after the mandate end date i.e., 17th August 2022.


Create a request with the bank to release funds anytime after the allotment date in case the shares are not allotted.