The Timeframe For Obtaining Refund When Shares Not Allotted?

The Timeframe For Obtaining Refund When Shares Not Allotted?According to Securities and Exchange Board of India guidelines, the Basis of Allotment needs to be finished with fifteen days from the IPO issue end date. As soon as the schedule of allotment is finished, within two working days the information of credit to demat accounts and allotment guidance as well as despatch of repayment order should be finished.

Therefore a trader should know in about fifteen days period through the closure of IPO issue, whether or not stocks are allocated to him

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