For an Indian IPO application made through ASBA, check the allotment result through the official channel identified in that issue’s materials—not through a bank debit alert or UPI mandate status. ASBA blocks your application money in your bank account; after allotment, the amount needed for allotted shares is debited and any surplus is unblocked. If you receive no shares, the blocked money is released rather than refunded, because it was not transferred out when you applied.
How to check your IPO allotment status
- Find the issue’s official allotment channel. Check the IPO’s official materials for the result announcement or lookup channel. The appropriate channel is issue-specific; there is no single permanent URL that applies to every IPO.
- Use the details requested by that channel. Enter the application-identifying information it asks for, and check the result shown there.
- Keep the result separate from your payment status. A bank debit alert or accepted UPI mandate concerns the payment process, not whether shares were allotted. SEBI says allotment communication is a separate process from the UPI debit notification in its FAQ on UPI in ASBA and IPO applications.
What your application and bank statuses mean
ASBA—Application Supported by Blocked Amount—holds the application money in your bank account while the allotment is pending. SEBI says the blocked amount continues to earn interest. The status of a UPI mandate and the allotment result answer different questions:
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| Status | What it means | What to check next |
|---|---|---|
| UPI mandate accepted; amount blocked | The payment mandate was accepted and funds were blocked. NSE identifies UPI status RC100 as “Mandate Accepted by Investor and amount Blocked”; this is a valid-bid status, not evidence of share allotment. See NSE Issue Information. | Check the issue’s official allotment channel for the result. |
| Shares allotted | The amount required for the allotted shares is debited from the blocked funds. | Compare the allotment result with the amount debited. |
| No allotment | No application money needs to be refunded: it remained in the account as a block and is to be released. | Check whether the block has been removed. |
| Partial allotment | The allotted-share value is debited; the surplus block is to be released. | Compare the allotted quantity and amount with the debit and remaining block. |
SEBI’s ASBA investor guidance explains that the amount remains blocked in the account until allotment and that there is no refund requirement in case of non-allotment.
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Why “refund” can be misleading for ASBA
In an ASBA application, the money is blocked rather than sent away at the time you apply. “Refund” is therefore often used informally for releasing the block. With no allotment, the blocked amount is released; with partial allotment, the value of allotted shares is debited and the rest is released. This distinction matters when reading a bank statement: a block being released is not the same transaction as a refund payment arriving in the account.
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How long can unblocking take?
A November 2024 SEBI master-circular excerpt describes the UPI process for non-allotted or partially allotted applications as being completed by the close of one working day after finalisation of the basis of allotment. That timing is specific to the UPI mechanism described in the SEBI master circular excerpt; do not assume it is a universal deadline for every IPO or payment route. Check the issue’s terms and applicable current instructions if the block remains.
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What to do if the debit is more than your allotment value
- Compare the shares allotted with the amount debited, accounting for the amount payable for those shares.
- If the debit exceeds the allotment value, raise a complaint through an appropriate route, such as the lead manager, bank, registrar and transfer agent (RTA), UPI app, or another available channel.
- Include your Unique Mandate Number and application details so the complaint can be traced. SEBI lists these details and routes in its UPI and IPO application FAQ.
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