if somebody is not allotted shares in IPO how money is refunded?
Harriette asks:
i invested in reliance power ipo shares through checque but shares are not allotted to me. Now i am worried about the refund of money. Please guide me. Thanks
i invested in reliance power ipo shares through checque but shares are not allotted to me. Now i am worried about the refund of money. Please guide me. Thanks
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call the company and find out. they should have an investment relations officer or something.
The cheque will come back to your residence. Some time direct credit to account also possible if the same Bank issuing cheques.
Don’t worry you will get your money back soon.
1. Directly to your bank account. or in your case
2. They send a warrant (cheque) to the address given in application form.
the refund is sent to your bank directy thru ECS , in case u live in a small city, a cheque will be sent to you shortly. we have already received the shares as well as refund
its simple if you invested through ur dmat account then most probably you will get the money back in the same account,or else you’ll get the cheqe
A cheque will be sent to e address u have specified in e IPO form…
Do not bother, allotment procedure is just completed.
Did you provided in your application, your bank account number and name of the bank where refund order is to be credited if yes then it will be automatically credited in your bank account under ECS Scheme.
If you have not provided these details they will send refund order by post. Good luck.
If not credited in time, you can claim interest after 21 days
it is as per rule. Refund orders are also to be despatched
well in time i.e.with in 21 days.
u will get back the money by direct credit or demand draft from that company