When UPI blocked funds will be refunded, if I do not receive IPO allotment?

All refunds of blocked amount get processed on the allotment day.

If an investor do not receive share allotment or gets partial allotment (shares allotted is less than shares applied for), funds will be released to your bank account.

If in any circumstances, funds are not unblocked on the allotment, it will be refunded or released before the mandate expiry period. You may also reach out to your bank for release of blocked amount.