Refunds of money are free. The application amount for an IPO online is automatically blocked in your account. This amount cannot be withdrawn. This amount will remain locked until the allotment for an IPO is completed. If you apply offline by sending a cheque, the refund process will begin after the finalization the basis of allotment. The full refund will be made and there are no fees. You can find the timeline for finalizing basis of allotment and initiation of refunds, as well as other details on IPO, on our website.