How to Cancel Applied IPO in meroshare:- The process of cancelling ipo in meroshare is not easy work you need to apply some steps which ultimately works for you. This is the problem faced by us also while applying for share through meroshare. So we have come up with the solution for you as well. You all know that "until you don't have the problem, you don't try to solve it" as said in the movie Toilet by Akshya Kumar.
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| Cancel IPO Application |
Example, Why You want to Cancel IPO application?
You are holding two DEMAT account in which you applied for Upakar laghubitta Bitthiya Sanstha Ltd. share on 1st day of opening of application for IPO through Laxmi Capital Ltd. and the share was verified. You can also look in the Image 1.
The next day you forget that you have applied for the Upakar Laghubitta Share and applied it again from another NIBL Ace Capital Ltd. DEMAT account.
8 Reasons for Rejection of Share in Meroshare
Immediately, after applying share through NIBL Ace Capital you realized that you already applied for the shame share yesterday then in this situation you are in a big tension so you want to cancel the IPO applied through NIBL Ace Capital because it has not been verified and could be edited as well. As you can see in the image 2 below.
OR,
You want to apply for another company share but you applied for the different share due to too many shares were opened for application like debenture, laghubitta, hydro share at the same time.
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| Image 1. IPO share application after verified |
How to Cancel Applied IPO in Meroshare?
According to the above two examples you have derived the solution to cancel the application of IPO using meroshare website. There are two methods to cancel IPO application form if not verified or amount is not blocked.
When you can Cancel IPO Application
- If you have applied for the share but not verified then in following situation you will get option to cancel
- In Application Report section -Report if Block Amount Status - Unverified (Application In-Process at Bank End)
- If you get option of Edit in the Application for Issue section of My ASBA
First Method to Cancel IPO Application
Withdraw you amount from the bank account and make it lesser than you have applied for the IPO. If you have Connectips account then you can easily transfer your amount to another account within a minute.
Second Method to Cancel IPO Application
- Open your Meroshare Account
- Go to My ASBA
- Click on Apply for Issue
- Again Click on Edit button
- Increase your Kitta so that your amount get lower and your amount is rejected which ultimately cancel your share application form for ipo using meroshare.
- Then, enter your CRN number and click to apply.
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| Image 2. Situation After increasing quantity of share applied and Amount of money in Bank |
Cancel IPO application
In Summary, there is no any specific option to cancel the applied IPO in meroshare as you have edit option in the meroshare to increase or decrease applied kitta unless it is verified in the meroshare. But, you have the above two options for rejecting the share by increasing the quantity of Share to apply in the meroshare which makes your balance insufficient for the applied and it will be rejected like you see in the image below.
How to Cancel IPO the application if you have huge amount of money into your bank Account?
If you have huge amount of money into your account and want to cancel your ipo application then you have two ways for cancellation,
👉 One is withdraw amount more than applied money from your bank account,
👉Two is if you have no way to withdraw amount of money then you have to edit you application to less amount only if your share application is not verified.
Bonus Tips for Applying Share through Meroshare
- Only hold one Demat Account into your name so that there will be no confusion while applying for share.
- Follow the above two methods for cancelling the share.
- Connect your bank with connectips if you are applying share through meroshare so that you could withdraw amount in such situation.
Conclusion
For meroshare you need connectips account for transfering money, khalti or esewa account for renewing your meroshare account, for purchasing and selling your share you need to have tms account, to make your amount in circulation.
