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HELP! Cancelled IPO order but amount still in blocked state

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Deal Lieutenant
rohan8397

I had applied for burger King ipo. But phonepe autopay failed and amount also got blocked on same day of applying. So i cancelled both the ipo order and autopay. But still amount is in blocked condition. What to do?
Ipo listing also completed today.
Please help.
Also unable to find a way to raise a complaint on Phonepe. Please guide for the same too.

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Deal Cadet Deal Cadet
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I did the same. I think it will be unblocked by 23rd.This is the mail I received for the same
The end date for UPI mandates for the Burger King IPO is 23rd December. Your bank is supposed to release the blocked amount automatically by the mandate end date. In case the release is not processed by your bank, you can escalate it at [email protected] to NPCI.

Deal Lieutenant Deal Lieutenant
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bella_ciao wrote:

I did the same. I think it will be unblocked by 23rd.This is the mail I received for the same
The end date for UPI mandates for the Burger King IPO is 23rd December. Your bank is supposed to release the blocked amount automatically by the mandate end date. In case the release is not processed by your bank, you can escalate it at [email protected] to NPCI.

And how did you complain?

Deal Cadet Deal Cadet
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rohan8397 wrote:

And how did you complain?

I didnot complain. I received this mail next day after ipo allotment result automatically.

Deal Lieutenant Deal Lieutenant
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Anyone else got refund?
i booked through phonepe (icici), my money also got stuck.

Deal Cadet Deal Cadet
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dealcracker25 wrote:

I got refund. Booked through Gpay

mine also stuck
applied but not got allotment
paid via imobile(icici bank)

how much time it took to refund?

Deal Lieutenant Deal Lieutenant
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Burger bhi nhi mila, Ek ke saath ek free bhi nhi mila, aur amount bhi deduct ho gayee Account me se sweat
Bad Luck!!

Analyst Analyst
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Don’t worry! It will be unblocked automatically, last time it took them 10 days, but it happens eventually!

Deal Cadet Deal Cadet
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nikhil9702 wrote:

mine also stuck
applied but not got allotment
paid via imobile(icici bank)

how much time it took to refund?

Got on Sunday

Deal Lieutenant Deal Lieutenant
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Awake wrote:

Don’t worry! It will be unblocked automatically, last time it took them 10 days, but it happens eventually!

It happens before allotment everytime. This time it’s late.

Deal Lieutenant Deal Lieutenant
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rohan8397 wrote:

It happens before allotment everytime. This time it’s late.

In few instances, it gets stuck till the ipo mandate expires.
I’d suggest use NB. Even if anyone wants to block funds using upi , then Use Bhim upi.
@vishusgh @bella_ciao @nikhil9702
Don’t rely on upi method if you want faster and confirmed refunds as more parties are involved in the process here whereas in NB only 2, bank and stock exchange. Lesser the parties, faster the refund/unblocking.

Deal Subedar Deal Subedar
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vishusgh wrote:

Anyone else got refund?
i booked through phonepe (icici), my money also got stuck.

Got refund on allotment day.
Applied through sbi net banking.

Deal Newbie Deal Newbie
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Mine is still in blocked state as of 12 Jan 2021, No allocation and no refund received yet. Paid using icici imobile UPI. How to escalate?

Deal Lieutenant Deal Lieutenant
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able wrote:

Mine is still in blocked state as of 12 Jan 2021, No allocation and no refund received yet. Paid using icici imobile UPI. How to escalate?

Of Burger king?

Deal Newbie Deal Newbie
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yes of Burger king IPO from year 2020. Any suggestions on what to do? I have contacted ncpi in emails.

Analyst Analyst
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able wrote:

yes of Burger king IPO from year 2020. Any suggestions on what to do? I have contacted ncpi in emails.

Did u contact icici? What did they say?

Blogger Blogger
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Mail to registrar as well

Deal Newbie Deal Newbie
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I have emailed NCPI and Registrar (Linkintime) and will call ICICI tomorrow, Will keep everyone posted.

Deal Newbie Deal Newbie
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Got response from registrar. From what I understand it is the bank that’s messed up.
Reply:
“Please note that as you have applied through UPI mode, contact your bank to do the needful.
We as RTA have already initiated the unblocking instructions to your Bank, through the sponsor bank, for this issue.
Also note that after unblocking funds there is no separate credit entry reflecting in Bank statement.
In UPI -ASBA there is no process of Refund. The hold release itself is an indication that the amount which was blocked earlier is now available for usage.Your total balance & available balance should be same.”

Hopefully it will show up.

Deal Newbie Deal Newbie
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I have applied for NAZARA IPO. My money is blocked in my account. But after many days, neither shares are showing in demat account nor money is unblocked.

Deal Lieutenant Deal Lieutenant
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vikashjind2020368 wrote:

I have applied for NAZARA IPO. My money is blocked in my account. But after many days, neither shares are showing in demat account nor money is unblocked.

Were shares allocated to you?

Deal Newbie Deal Newbie
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I applied for Zomato IPO. But PHONEPE autopay failed and amount got blocked on same day of applying. So I cancelled the IPO order and tried to reapply for the IPO but the autopay failed again and the money got blocked again as well. But still amount is in blocked condition. What to do?
The IPO is not yet listed. Should I wait till it gets allotted or should I reach the bank?
Please help.
Also unable to find a way to raise a complaint on PHONEPE. Please guide for the same too.

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