HELP! Cancelled IPO order but amount still in blocked state

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Deal Subedar
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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.

26 Comments  |  
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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.

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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?

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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.

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

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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?

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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!!

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

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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

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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.

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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.

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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.

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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?

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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?

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

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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?

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Mail to registrar as well

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

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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.

Missing