Money not released

General
#1

Hello there,

I applied to IPOs via SBI net internet banking portal. Some IPO funds have been released, but some funds is still blocked in my account.

When called customer service, I’m not getting any proper response.

So how should I proceed furthur in this case?

Thank you!

#2

You Will Get your money unblocked before 4-5 days of the Mandate End of IPO.Eg: If Mandate End Date is 20th April 2021 Then your money will get unblocked by 15th or 16th April.

#3

Hello @Ranjan5,
Thanks for responding.

I want you to let know that it has been 15 days since allotment. (IPO was Craftsman IPO)

So what should I furthur?

#4

Craftsman ipo’s last mandate date is today i.e, 7th April so if today your amount not get unblocked by bank you have to visit the bank branch and submit some application.

#5

Certain bank delay revocation of IPO mandate. Please check your mandate, if the mandate is date is already over then you may raise a request with your bank to release funds anytime after allotment date in case you have not received allotment of shares.