Can I withdraw IPO application?

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.