If one applies for an IPO how long does it take for the balance amount (applied -allocated) to be refunded ?
Brittanie asks:
Suppose you apply for 100 shares you might be allocated only 20 - how long does it take for the amount I paid for unallocated 80 shares that was paid while applying to be refunded?
Suppose you apply for 100 shares you might be allocated only 20 - how long does it take for the amount I paid for unallocated 80 shares that was paid while applying to be refunded?
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i takes only 4 to 5 days. from the IPO open.
The allotment process should be compleated within 15 days from the date of closure of the issue.SInce the time deadline for credit of shares,dispatch of refunds etc.are also the same,the allotment process normally is compleated 2 days prior to 15 days deadline- i.e.by the 13th day form date of closure.The Registrar has to despatch the Refund order and upload the electronic credit/ECS on or before the end of 15th day from the date of closure of the issue.
approximately 16 days from the date of he closing of the issue.