Paras Defence and Space Technologies IPO: How to check for your refund if you have not received the allotment

• The IPO was open for subscription from September 21 to September 23.
• The company announced the allotment of IPOs yesterday, September 28.
• Initiation of refund procedure or unblock of amount in a bank account will begin from today, September 29.

If you had applied for Paras Defence and Space Technologies initial public offering (IPO), the IPO allotment has been already done. The company announced the allotment of IPOs yesterday, September 28.

Investors have bid for 217 crore shares against the 71.40 crore shares on offer, so clearly more than 50% of the applicants would have not received allotment of shares.

If you have not checked whether you received the IPO allotment or not, click here and follow the procedure.

For those who checked and have not been allotted the shares of the Mumbai-based defence company -- the initiation of refund procedure will begin from today, September 29.

Once the IPO result is released, all the applicants who got allotment will receive the share in their demat account on the date of listing. And the rest, who unfortunately didn’t get the allotment will receive their IPO refund on/before the end date of mandate.

Usually, with the registered phone number on the investment platform, every applicant gets a message when shares are blocked and unblocked in their bank account. This indicates if one has received the IPO allotment or not.

Most of you would have received a request for UPI ID while completing IPO transaction. After the submission, investors will receive a validity period. The IPO amount which is blocked in an investor account usually gets unblocked one day later the IPO allotment or before the end of the validity period.

Here is the screenshot of an IPO mandate after the transaction is made through the UPI ID that has the validity period of the IPO.

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