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IPO Bank Error Compensation Calculator

What your bank owes for a missed IPO bid or money blocked too long (SEBI rules)

Reviewed by the PaisaTools Editorial Team · Last reviewed September 2026

What went wrong
₹

The final price you'd have paid per share (upper band for a cut-off bid)

₹

The HIGHEST of the opening prices on listing day, NSE or BSE. If it opened below the issue price, nothing is owed

shares
lots

Only matters when the retail portion was NOT over-subscribed

×

Final retail (RII) subscription. Above 1×, a winner gets one lot by lottery

%

e.g. 7:8 = 87.5%. Leave at 0 to estimate it as 1 ÷ subscription (usually on the low side)

days

It has 15 days after your claim; count only the days beyond that

Minimum compensation the bank owes (SEBI formula)

₹217

Listing gain per share

₹181

Shares you'd have got

12

Chance of allotment (estimated)

10.0%

How it’s worked out: (listing price − issue price) × shares you’d have been allotted × probability of allotment. It’s a minimum, from SEBI’s 2018 circular, now in the ICDR Master Circular.

Claim it: write to the bank that handled your application within 3 months of the listing date. It must resolve the claim in 15 days; after that it owes 15% a year interest. If it doesn’t, complain on SEBI SCORES.

Your bank sits between you and the IPO: it blocks the money and places your bid on the exchange. When it gets that wrong, SEBI’s rules say it owes you money. There are two separate rules: one for a bid the bank never placed (or got rejected), and one for money it kept blocked longer than allowed.

This calculator applies both, with SEBI’s own formulas and rounding to the paisa. Pick what went wrong, enter the issue’s numbers, and it shows the minimum you’re owed and who pays it.

For how allotment odds work, see IPO allotment chances; if your refund is late, IPO refund not received; and to check whether you got shares, IPO allotment status.

SEBI circular SEBI/HO/CFD/DIL2/CIR/P/2018/22 (15 Feb 2018), Compensation to Retail Individual Investors in an IPO, with its worked example; SEBI circular SEBI/HO/CFD/DIL2/P/CIR/2021/2480/1/M (16 Mar 2021), Annexures V and VI; both carried into the SEBI Master Circular for ICDR (updated 9 Feb 2026), chapter 5 and Annexures XXI and XXII. Consumer case: Gujarat State Consumer Disputes Redressal Commission, as reported in October 2026.

These are SEBI’s minimums; a bank may pay more, and a consumer commission can award costs and damages on top. The probability is estimated as 1 ÷ subscription unless you enter the actual allotment ratio. It doesn’t decide whose fault an error was. Not legal advice.

What does a bank owe if it fails to place my IPO bid?
If your bank (the SCSB) blocked the money but didn't place the bid, didn't process an application you submitted in time, or caused its rejection, SEBI sets a minimum compensation: (listing price − issue price) × the shares you would have been allotted × the probability of allotment. The listing price is the highest opening price on listing day across the exchanges. Nothing is owed if the shares listed below the issue price.
How do I claim it, and by when?
Write to the bank that handled your application within three months of the listing date, with your application number and proof of the blocked amount. The bank must resolve it within 15 days; after that it owes 15% a year interest on the compensation for the delay. If it still doesn't pay, complain on SEBI SCORES.
What if my money stayed blocked after allotment?
That's a different rule. For a late unblock, a double block or an over-block, the bank pays ₹100 a day or 15% a year of the amount, whichever is higher, from the day the lapse began until the day you complain. If it's still not fixed after your complaint, the IPO's post-issue lead manager pays the same rate again for each further day.
Can I go to a consumer court over an IPO application error?
It has worked at least once. In a case reported in October 2026, an Ahmedabad investor applied for 130 Adani Wilmar shares in 2022 and her bank entered only 65. The district commission dismissed her complaint, saying share investment was commercial. On appeal, the Gujarat State Consumer Commission held the bank liable and awarded about ₹37,000 (₹20,000 for deficient service, ₹10,000 for harassment, ₹7,000 costs), but rejected her ₹40 lakh claim as excessive and her ₹42,142 loss claim as speculative. One state commission's order isn't binding everywhere, but it shows the route exists.
What if the retail portion was over-subscribed?
Then a successful applicant gets one minimum lot by lottery, so the formula uses one lot and the probability of winning it. SEBI's own example: issue ₹300, listing ₹325, lot 20, allotment ratio 7:8, so (325 − 300) × 20 × 7/8 = ₹437.50. If the issue was not over-subscribed, you're compensated for all the shares you would have been allotted.
How do I prove the bank's mistake?
Keep the UPI mandate or ASBA acknowledgement, the bank statement showing the blocked amount, and a screenshot of the bid status. After the issue closes you can check whether your bid reached the exchange on the NSE or BSE bid-verification page using your application number; a missing bid with money blocked is the bank's failure.

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