When do I get my money back after applying for an IPO, and then withdrawing my IPO application before my allocation is done?
The release of the funds is supposed to be real-time in case you cancel your bid during the issue open period. However, in some cases, banks are processing the unblock by the EOD on the date of cancellation. Also, sometimes, the unblock is being processed on the allotment date with the other applications. Going forward, the uncertainty of the time taken to release blocked funds should reduce as NPCI works on this with the banks.