How do I cancel/revoke an IPO mandate I have authorised using PhonePe?

To cancel/revoke an IPO mandate that you’ve authorised using PhonePe:

1. Log into the broker’s website through which you placed the bid initially.
2. Select the option to delete or revoke your bid. 
3. Once you’ve submitted the cancel/revoke request, your bid will be cancelled.
4. The amount blocked in your account for the IPO will be released by your bank. This amount will reflect in your bank account within 2 to 3 days from the date you cancelled or revoked the IPO mandate. If you see that the amount is not released after this period, please contact your bank for further assistance. 

Note: You can cancel or revoke an IPO mandate between 12:00 p.m. and 5:00 p.m. only during the bid offer period. 

Learn more about what you can do if you don’t receive an authorisation request for a bid you’ve placed or modified on the broker’s platform.