IPO or Initial Public Offer is a way for a company to raise money from investors for its future projects and get listed to Stock Exchange. Or An Initial Public Offer (IPO) is the selling of securities to the public in the primary stock market.
As per SEBI guidelines, all applicants are required to provide their PAN while applying for an Issue. Application without PAN or with invalid PAN is rejected. Investors are requested to ensure that their DP account is updated with proper PAN details.
Refunds are directly credited by IPO registrar to your Bank account linked to your Demat account on the date of allotment, provided the MICR number in your bank account is updated in your demat account, failing which you shall receive the refunds vide physical warrant sent through POST/ Courier by IPO registrar.