IPO Fund Allocation

Pick IPOs you already applied to, then upcoming ones. We’ll say if the refund can be reused.

Category · minimum lot

Tick which IPOs you already applied to (or are applying now), then which you plan next.

Already applied / applying now

Closed and currently open

Open now

Closed / allotted

Plan to apply next

Upcoming, plus open issues you did not tick on the left

Still open

Upcoming

Retail and SHNI use the minimum lot. Refunds skip Saturday and Sunday. Bank holidays can move the date by a day.

How this works

ASBA blocks your bid until allotment. Refund is usually the next working day after allotment, or the working day before listing. If that date is on or before the next IPO’s close, you can apply again with the same cash.

FAQs

Can IPO refund money be used in the next IPO?

Yes, once the ASBA amount is unblocked. In most issues the refund (unblock) is the next working day after allotment, which is also usually the working day before listing. If that date falls on or before the next IPO’s close, you can apply with the released funds — often on the last day of the new issue.

How much money is blocked for Retail, SHNI and BHNI?

On a mainboard IPO, Retail is up to just under ₹2 lakh per PAN, Small HNI (SHNI) is from just over ₹2 lakh to just under ₹10 lakh, and Big HNI (BHNI) starts at ₹10 lakh. SME issues use an Individual category (usually 2 lots) instead of a ₹2 lakh retail cap. Your bank blocks the bid amount until allotment and refund.

Do extra lots on the same PAN improve allotment chances?

No. When a category is oversubscribed, Retail, SHNI and BHNI all use a lottery. Extra lots on the same PAN do not improve that PAN’s chance. More unique PANs in a category give more lottery tickets. Applying for more lots only changes how much cash is blocked.

When is the IPO refund date?

Refunds are typically processed on the next working day after allotment, or one working day before listing. Saturday and Sunday are skipped. Bank or exchange holidays can push the unblock by a day. Check the IPO allotment page for the published refund date when it is available.

Can one PAN apply in Retail and HNI in the same IPO?

No. One PAN can make one application in one category of the same IPO. The bid amount decides the category. To cover Retail and SHNI together, you need separate eligible PANs (for example family accounts) and enough funds for each bid.

How should I split funds across overlapping IPOs?

Add up bids only for IPOs whose money is blocked at the same time. If IPO A refunds before IPO B closes, that cash can usually be recycled into B. If refunds land after B closes, you need funds for both. This calculator estimates peak blocked cash using working-day refund dates.

Sources

We match IPO fund planning IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

  • SEBIRules for IPO allotment and disclosures in India
  • NSEExchange notices, bidding data, and listing updates
  • BSEExchange notices and IPO allotment check tools
  • RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
  • IPO RegistrarRegistrar details are on the allotment page for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

Reviews allotment and fund-planning explainers on IPOwiz.