What happens after a bid for an IPO is placed?

“Bid Submission: Once you place a bid, it’s sent to the exchange.

Bank Interaction: The exchange forwards the bid to the bank through the National Payments Corporation of India (NPCI). Here, the UPI app is used to request the mandate.

UPI Mandate Approval: Upon approval of the UPI mandate, your IPO application is considered complete.

Application Assessment: The company’s registrar evaluates your application during the share allotment process.

Share Allotment: If shares are assigned, they’ll be credited to your demat account one or two days before the listing date.

Non-Allotment Refund: In case shares are not allotted, the invested amount is refunded back to your bank account.