Yes, you can withdraw your IPO application after submission, but only within the time window allowed by the exchange. Usually, you can cancel or modify your IPO bid before the issue closes, typically between 10 AM and 5 PM on working days during the IPO period. Once the IPO closes, withdrawal is not possible.

How to Withdraw IPO Application Online?

To withdraw your IPO application online, log in to the app or platform where you applied for the IPO (like Angel One). Go to the IPO section, select the active IPO, and click on “Withdraw” or “Cancel Bid.” You must do this before the IPO bidding window closes. Once submitted, the blocked amount in your bank will be released in a few days.

What Is the Time Limit to Cancel an IPO Application?

You can cancel or withdraw your IPO application only during the IPO open period, which is usually 3 working days. You must cancel it between 10:00 AM and 5:00 PM during those days. After the IPO closes, you cannot withdraw your application.

Will My Money Be Refunded After IPO Withdrawal?

Yes, after successful IPO withdrawal, the money that was blocked in your bank account will be released. This usually happens within 2 to 3 working days. The amount is not debited unless the allotment is done, so once you cancel the IPO bid, the hold on the amount is removed.

Can I Modify My IPO Application Instead of Withdrawing?

Yes, you can modify your IPO application before the closing date of the IPO. You can change the bid amount, quantity, or price through your broker or online platform. After modifying, your old application will be replaced with the updated one. Modification is allowed only within the bidding time frame.

What Happens If I Don’t Get IPO Allotment?

If you don’t get any allotment in an IPO, your money will be automatically unblocked by the bank. This process takes 3 to 5 working days after the allotment date. There is no need to cancel your IPO if allotment is not done, as the funds are not debited unless shares are allotted.

Why Do Investors Cancel IPO Applications?

Investors cancel IPO applications for various reasons like market volatility, company reviews, expert advice, or simply change of mind. Sometimes, new information about the company or its financials comes out during the IPO window, which makes investors rethink their decision. Withdrawing gives them the freedom to reassess their investment choices.