IPO Application Modification

Investors can cancel the IPO applications online or offline. The online IPO cancellation is much easier than the offline process.

Steps to cancel IPO application online (Cancel e IPO):

• Log into the online broker or bank software.
• Click on the IPO section from the Menu.
• Select the IPO you want to cancel.
• Select the IPO cancellation option and submit.
• Blocked funds will be released on finalization of allotment or cancellation based on bank policy.

Note: The option to cancel/withdraw/delete IPO will be available only once the bid is submitted to exchange successfully.

To cancel the IPO application offline, investors must complete the revision form or send a cancellation letter to the intermediary through whom the application was submitted, mentioning their application number.

Steps to cancel IPO application offline:

• Download the IPO modification/revision form from the NSE/BSE website or obtain it from the nearest broker/SCSB. (Usually, the revision form is given along with the original bid form).
• Enter the applicant's name, contact information, and PAN.
• Write "CANCELLED" under the revised bid details.
• Fill out the acknowledgement slip.
• Submit the revised application form.

Investors cannot cancel an IPO application after the closing date.

Cancellation of IPO bids can only be done during the IPO bidding window by retail investors in mainboard IPOs (up to ₹2 lakhs), and individual investors in SME IPOs (minimum 2 lots), as well as employees and shareholders within their eligible investment limits. QIBs and NIIs cannot cancel their bids once placed or submitted.

In SME IPOs, some issues may restrict cancellation. Hence, investors should always check the offer document (RHP) for specific rules.

Yes, you can modify an IPO application anytime during the IPO subscription period.

Modification rules for IPO application:

• Mainboard IPOs
  • Retail Investors (up to ₹2 lakhs) can increase or decrease the bid size.
  • QIBs and NIIs can only increase the bid size but cannot lower it.
  • Employees and Shareholders (up to ₹2 lakhs) can increase or decrease the bid size.
• SME IPOs
  • Individual Investors (minimum 2 lots) may be allowed to revise bids, but in some SME IPOs they are treated like QIBs/NIIs — only upward revision is permitted.
  • Employees and Shareholders (minimum 2 lots or as defined in RHP) can revise the bid size subject to their upper limits, but revision rules depend on the specific offer document.
  • QIBs and NIIs: same as mainboard — only upward revision allowed.

The IPO modification window on the last day generally closes between 2:00 p.m. and 3:00 p.m., depending on the broker/bank. Always check with your broker/bank and refer to the RHP for SME IPO-specific rules.

IPO bids can be modified online or offline while the IPO is open for bidding.

Steps to modify IPO bid online:

• Log into the broker or bank software.
• Look for the IPO section.
• Select the IPO for modification.
• Make the changes.
• Submit the application.
• Complete the payment using UPI/ASBA (applicable when additional payment is required to be made).

Steps to modify IPO bid offline:

• Fill the IPO revision form procured/downloaded with the below details :
  • Name
  • PAN
  • Address
  • Contact Details
  • Email ID
• Enter the original/previous bid details.
• Enter the UPI ID/ASBA bank account no. as applicable.
• Sign the form and submit the form to the intermediary through whom the original application was submitted.

Yes, you can cancel an IPO application and reapply if you are:

• A retail investor in mainboard IPOs (up to ₹2 lakhs) / Individual Investor in SME IPOs (minimum 2 lots), or
• An employee, or
• A shareholder (limits as per RHP).

Before reapplying, ensure the cancelled status is reflected, as sometimes it may take time for the cancellation to process.

QIBs and NIIs cannot cancel their IPO bids once applied.

In some SME IPOs, cancellation by Individual Investors, Employees, or Shareholders may not be permitted, and only upward revision is allowed. Always check the offer document (RHP).

Yes, you can withdraw an IPO application if you are a retail investor in mainboard IPOs (up to ₹2 lakhs) or an Individual Investor in SME IPOs (minimum 2 lots), or an employee/shareholder within the applicable limits (as defined in the RHP).

You can withdraw your bid online or offline depending on the mode you have chosen while applying for an IPO. Cancellation/withdrawal of bid can be done at any time as long as the IPO window is open from 10 am on the day of the opening of the issue to 5 pm on the day of closing of the issue. Cancellation requests submitted after 5 p.m. (except on the last day) will be processed the next day. Some brokers, such as Zerodha, have a specific window for cancellation requests (until 4:30 p.m.). On the last day, usually, no broker or bank allows cancellations to be placed until the cut off time of 5 pm. Therefore, check with your broker/bank for exact timelines.

QIBs and NIIs cannot withdraw the IPO application.

An IPO application can get rejected on multiple different grounds that can be technical or can due to error on part of the intermediary or the investor.

Some common reasons for IPO transaction rejection:

• Multiple applications using the same PAN.
• Incorrect and missing details in the application form.
• Mismatch in PAN name and bank account name.
• Incorrect UPI ID.
• Incorrect bank details.
• Missed to approve the UPI mandate within deadlines.

Yes, it is possible to cancel the IPO application.

IPO applications submitted by retail investors in mainboard IPOs (up to ₹2 lakhs) or Individual Investors in SME IPOs (minimum 2 lots, subject to the specific RHP, as some SME IPOs may not allow cancellation), as well as employees/shareholders within the applicable limits, can be cancelled at any time during the subscription period.

For investors planning an IPO application cancellation, here are some critical indicators to look out for :

• The IPO offering window of the stock exchange is open from 10 am to 5 pm on working days.
• All banks do not allow investors to cancel or amend the IPO application until the cut off time of 5 p.m. on the day the offering closes. They limit the time to 2 or 3 pm.
• It can take up to 24 hours after the cancellation request to release the funds.
• After the exchange successfully cancels the application, a retail investor can submit a new application for the IPO.
• QIBs and NIIs cannot cancel the IPO application.

Yes, you can reapply for an IPO after a cancellation.

Once the IPO is cancelled by the stock exchange, the retail investor can reapply for the IPO. It may take up to 24 hours after the request for cancellation for the funds to be released.

If you cancel your IPO request, your blocked funds will be released and you may submit a new IPO request if desired.

It usually takes up to 24 hours for funds to be released. The time for funds to be released varies from bank to bank.

Only retail investors in mainboard IPOs/individual investors in SME IPO, employees, and shareholders are allowed to cancel IPO applications. In some SME IPOs, cancellation may not be permitted, so check the RHP for details.

Investors can withdraw the IPO bid at any time as long as the IPO issue is open for subscription.

Withdrawal/cancellation of IPO bids can be done either online or offline. To cancel the bid offline, investors should submit a duly signed cancellation letter along with their application and bid details to the intermediary where the original application was submitted.

Steps to withdraw from an IPO online:

1. Login to the broker/bank platform from where the IPO application was made.
2. Go to the IPO section.
3. Select the IPO.
4. Click on cancel or withdraw.

The blocked money will be released in a day or two or on expiry of UPI mandate based on the bank policy.

A mandate request, once created, can be revoked until the issue is closed.

Following are the steps to cancel the IPO mandate in Google pay:

• Open google pay application and click on profile tab.
• Click on the Autopay option.
• Click on the pending section and you will be able to see all pending mandates.
• Select the IPO pending mandate.
• Click on Decline to cancel the mandate.

Investors can cancel the IPO mandate in PhonePe by clicking directly on the notification link or via the PhonePe app.

Steps to cancel IPO mandate in PhonePe:

• Open PhonePe App.
• Click on the "bell icon" or "mandate notification" icon that is in the top right corner.
• The Notifications tab will open, and show all pending requests.
• Check the Autopay request for the IPO.
• Click on decline.

The BHIM app has a dedicated section for IPO, where all IPO mandates are listed in the "Pending" and "Active" tabs, depending on their status.

Steps to cancel IPO mandate in BHIM App:

• Open the BHIM App.
• Click on the IPO option.
• Select the desired mandate to be cancelled under the Pending tab.
• Click on Decline to cancel the mandate.

To cancel IPO mandate in Paytm follow the below mentioned steps.

• Open the Paytm app.
• Click on Send Money to Bank A/C UPI icon.
• Click on the settings icon that is on the up right corner.
• Scroll down to UPI Automatic Payments and open it.
• Select the IPO UPI mandate from the list of pending mandates.
• Click on decline and the IPO mandate will be cancelled.

Yes, you can cancel your IPO application and submit a fresh application if you are a retail investor in mainboard IPOs/individual investor in SME IPO, employee, or shareholder (check the offer document for applicable rules).

You can cancel the IPO application at any time before the closing of the issue. Once the original application is cancelled, you can reapply for the IPO.

QIBs and NIIs cannot cancel their IPO applications once applied.

Investors such as retail investors, employees, and shareholders can cancel their IPO order either by contacting the intermediary or online. For SME IPOs, always check the offer document (RHP) for applicable cancellation rules.

Generic steps to cancel IPO order online:

• Open the intermediary application.
• Open the IPO tab and click on applied IPO.
• Click on cancel/Delete/Withdraw the application.
• Submit the request.

An IPO bid can be cancelled only by retail or individual investors, employees, and shareholders. Cancellation is allowed only before the issue is closed for subscription. Investors cannot cancel or withdraw their bid once the issue is closed for subscription.

An IPO bid can be canceled only by investors with an investment amount of up to Rs 2 lakhs. Cancellation is allowed only before the issue is closed for subscription. Investors cannot cancel or withdraw their bid once the issue is closed for subscription.

The online procedure for cancellation of the IPO is much more convenient than the offline procedure. To cancel the IPO bid online, investors just need to go to the IPO section and cancel the desired IPO transaction by logging in to their broker/bank's app.

To cancel the IPO bid offline, contact the intermediary through which the original application was submitted.

An IPO application can be easily deleted online through the bank/broker.

Steps to delete IPO application:

• Login to the bank/broker platform through which the original application was made.
• Go to the IPO section.
• Select and click on the desired IPO transaction.
• Click on Delete/withdraw/Cancel.
• Submit the application.

If the original IPO application was made by submitting a physical form, investors need to contact the respective intermediary to cancel the application by submitting a properly signed cancellation letter.

Yes, you can withdraw an IPO application if you are a retail investor, employee, or shareholder. For SME IPOs, check the offer document (RHP) as some issues may not allow withdrawal.

You can withdraw your IPO application before the issue closes for subscription.

No, HNIs are not allowed to withdraw, cancel or delete their IPO application once it has been submitted.

HNIs may modify their IPO application to increase bid size. HNIs cannot modify their application to decrease the bid quantity or price.

As per SEBI guidelines, only investors with an investment of up to 2 lakhs (mainboard) or Individual Investors applying for less than 3 lots in SME IPOs can cancel or amend their bids. HNIs are investors exceeding these thresholds and hence cannot cancel their IPO application.

You can withdraw IPO applications only while the IPO is open for subscription.

The IPO window is open from 10 a.m. on the issue opening date until 5pm on the issue closing date. You may cancel your bids online at any time during this period once the "Cancel/Withdraw" option is visible to you. Issue cancellation requests submitted after 5 p.m. will be processed the next day. The "Cancel/Withdraw" option is visible only if the IPO application has been successfully submitted.

Some brokers (like Zerodha - 10 am to 4:30 pm) have a specific window for cancellation. On the last day of the offering, cancellation requests are generally only allowed until 2 or 3 p.m. to avoid last-minute problems. Check with your broker/bank for specific cancellation deadlines.

Yes, you can edit your IPO application.

A retail investor in mainboard IPOs (up to ₹2 lakhs) or an Individual Investor, Employee, or Shareholder in SME IPOs (minimum 2 lots) may revise their bid. Since the minimum application size is 2 lots, the quantity cannot be decreased; in some SME IPOs, even the price can only be revised upward, similar to QIBs and NIIs.

You can change your bids as per the above guidelines or any other details in your application as long as the issue is open for subscription. The time window for submitting bids is from 10:00 a.m. (opening of the issue) to 5:00 p.m. (closing of the issue). On the last day, applications for amendments are generally accepted only until 3:00 p.m.

You can process your IPO application online through the broker/bank's platform or submit the revised application form at the nearest bank or broker branch.

The submitted IPO applications can be modified online or offline during the IPO bidding window.

Generic steps to modify the IPO application online:

• Visit the intermediary application or website.
• Open orders or IPO tab.
• Select the IPO.
• Click on Modify.
• Make the required changes.
• Click on Modify/Submit.

Steps to modify IPO application offline:

• Fill the personal details like Name, Address, Email and Contact in the revised Bid cum application form procured along with original application form.
• Enter the revised bid details.
• Enter the bank account details or UPI ID.
• Sign the form and submit it to the nearest bank/broker branch.

Yes, you can cancel IPO subscription if you are a retail investor in mainboard IPO or an individual investor in SME IPO, employee, or shareholder in SME IPOs. Some SME IPOs have restriction on cancellation, hence check the offer documents carefully.

QIBs and NIIs are not allowed to cancel their IPO bids once placed. They can only modify it to increase the bid size.

An IPO application can be withdrawn by retail investors online or offline.

To withdraw an IPO application online, log into the broker app or banking platform and cancel the originally submitted IPO application.

To withdraw an IPO application offline, contact the intermediary through which the application was submitted and request cancellation.

Investors can withdraw IPO applications at any time before the issue is closed for subscription.

Yes, individual investors, employees, and shareholders may be allowed to cancel their SME IPO application, subject to the rules specified in the offer document (RHP).

Since the minimum application size is 2 lots, the quantity cannot be reduced. Additionally, in some SME IPOs, even the price can only be revised upward.