Does anyone have any idea about this refund?
Harsh, can you elaborate on the context?
I applied for this WAAREE ENERGIES IPO, which has not been allotted but the amount has still not been withdrawn.
What might be the reason or Is anyone facing the same issue?
The amount is withdrawn only if you get the IPO allotment. When you accept the UPI mandate, the funds are blocked in your account but remain there. If you don’t get the allotment, the funds are unblocked. That’s why the message says “Funds not withdrawn.”
It shows that the IPO mandate expired on 23rd October. What time did you accept the UPI mandate request?
23Oct 2024, 10:37 AM
If the funds are not blocked, they should’ve been released by now. Would request you to check with your bank once sir. We’ve explained in detail in our article.
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No, @Meher_Smaran , in this case, 23rd October was the last day for IPO applications. He applied and accepted the mandate request on 23rd October at 10:37 am, and the funds were unblocked on the same day. However, the refund initiation date was 25th October (I believe), and the mandate end date was 7th November. So, why were the funds unblocked on 23rd October itself?
I thought it could be because he accepted the mandate after 5 pm that day, but he mentioned accepting it around 10:37 am. What could be the reason for this?
I stopped using GPay for huge payments. There is practically no support from them, and their app does this stuff many times. Its a pain in the a. Gpay is best for paying bhelwaala and for milk.
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Off topic, but which UPI app do you prefer?
I prefer using direct banking apps/private banks only. tbh bhim has also improved a lot in recent years.
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